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Report / MediaIn – Rasha Al – Sharqawi March 8, 2018
The project entered into a new stage on the implementation road; following the signing of the Kingdom of Saudi Arabia with the Arab Republic of Egypt, investment agreements for the development of Egyptian land south Sinai to be within the project, the area of more than a thousand square kilometers.
Neom is a promising Saudi project for future cities. It was launched last October by Saudi Crown Prince Mohammed bin Salman al-Saud. It is located in the far northwestern part of Saudi Arabia and includes land within the Egyptian and Jordanian borders.
Saudi Arabia and Egypt have established a joint venture with more than $ 10 billion worth of shares. The Egyptians have long-term leasehold land for investment in land on the Egyptian side of the Neom project.
Saudi Arabia plans to set up seven tourist attractions in the Red Sea, within the city of Neom, between cities and tourism projects, while 50 resorts and 4 small cities are being built in the Red Sea project.
It will also develop areas between Neom and the Red Sea, creating three other destinations between islands and beaches, more than 15 sea frontiers and hundreds of resorts.
In Egypt, emphasis will be placed on two points of attraction: Sharm el-Sheikh and Hurghada. Egypt will develop them and create new attractions. On the Jordanian side, the focus will be on the development of Aqaba through Jordanian-Saudi investments.
The project also attracts European shipping and tourism companies operating in the Mediterranean.
