NEOM is planning to launch five to six projects for resort development within the city, in parallel with THE LINE, CNBC Arabia reported, citing NEOM CEO Nazmi Al Nasr.
The urban planning and development of all projects started, Al Nasr explained, adding that more details will be announced upon completion of each site plans.
Some of these resorts will open after three years, he added.
The most important step for the company in the past three years was to develop all strategies and get the board of directors’ approval.
During 2020, NEOM focused on facing the COVID-19 pandemic. The impact was minimal on the project growth and progress, while the biggest challenge was to continue attracting global and national partnerships.
Moreover, NEOM entered into partnerships with local firms to build workers accommodations and attract contractors for infrastructure works. NEOM also aims to attract more international and local firms in the long term, Al Nasr said.
Saudi employees at NEOM represent more than 45 percent, including engineers, financial experts, Al Nasr pointed out, concluding that nationals will lead NEOM development in cooperation with foreign employees.
Earlier this week, Crown Prince Mohammed bin Salman unveiled THE LINE project within NEOM, a city of million residents. The project development will start during Q1 2021, according to data compiled by Argaam.
In October 2017, the Crown Prince announced the launch of a new investment city, NEOM, in northwest Saudi Arabia, at a total investment of $500 billion.