NEOM Announces Zardun, its New Luxury Ecotourism Destination

Zardun is NEOM's newest coastal destination, designed to blend modern luxury with natural beauty and complement a number of other coastal destinations being developed in other projects across NEOM region. (SPA)
Zardun is NEOM's newest coastal destination, designed to blend modern luxury with natural beauty and complement a number of other coastal destinations being developed in other projects across NEOM region. (SPA)
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NEOM Announces Zardun, its New Luxury Ecotourism Destination

Zardun is NEOM's newest coastal destination, designed to blend modern luxury with natural beauty and complement a number of other coastal destinations being developed in other projects across NEOM region. (SPA)
Zardun is NEOM's newest coastal destination, designed to blend modern luxury with natural beauty and complement a number of other coastal destinations being developed in other projects across NEOM region. (SPA)

NEOM's Board of Directors announced on Wednesday the launch of "Zardun", an exclusive resort and natural reserve that will contribute to the restoration and revitalization of the surrounding environment, supporting NEOM's efforts to develop luxury ecotourism in Saudi Arabia.

Zardun is NEOM's newest coastal destination, designed to blend modern luxury with natural beauty and complement a number of other coastal destinations being developed in other projects across NEOM region.

Overlooking the turquoise waters of the Gulf of Aqaba, Zardun Nature Resort will feature four distinctive, ultra-luxurious buildings that will blend harmoniously with the surrounding landscape. Zardun is a one-of-a-kind destination that blends luxury with nature and aims to offer visitors the ultimate ecotourism experience.

The new mountain-to-beach destination will span four square kilometers and has been carefully designed as a reserve that preserves the diversity of its rich habitat of local flora and fauna. Visitors will be able to experience its beauty through the state-of-the-art Experience Center, which includes an observation deck with a 360-degree panoramic view that allows visitors to observe the details of wildlife and enjoy the natural landscape of the surrounding environment.

Zardun will feature three luxury boutique hotels with 100 rooms and suites, designed with a futuristic vision that promotes sustainability to preserve this environment that is being developed for the first time. Each hotel will take a different approach to delivering distinctive experiences for guests, with stunning views of the valley floor and beachfront.

Zardun will offer hiking, mountain biking, rock climbing, and other sports and recreational activities, including stargazing, meditation, and yoga. In addition, visitors will be encouraged to join educational and field programs on nature protection, conservation, and resettlement.

Zardun's sustainability strategy includes pioneering conservation methods, including the development of a series of oases to support diverse natural habitats. The area's existing water sources will help revitalize the natural habitat of local flora and fauna. Along its coastline, Zardun will also support a vibrant marine ecosystem, including the preservation of coral reefs and other marine species in the Gulf of Aqaba, exemplifying NEOM's ongoing commitment to nature conservation.

Zardun joins the latest projects recently announced by NEOM, including Leyja, Epicon, Siranna, Utamo, Norlana and Aquellum, which are sustainable tourism destinations on the Gulf of Aqaba, all of which exemplify NEOM's commitment to sustainable progress.



Oil Steadies after Fall as Middle East Uncertainty Persists

A pumpjack brings oil to the surface in the Monterey Shale, California, US April 29, 2013. REUTERS/Lucy Nicholson/File Photo
A pumpjack brings oil to the surface in the Monterey Shale, California, US April 29, 2013. REUTERS/Lucy Nicholson/File Photo
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Oil Steadies after Fall as Middle East Uncertainty Persists

A pumpjack brings oil to the surface in the Monterey Shale, California, US April 29, 2013. REUTERS/Lucy Nicholson/File Photo
A pumpjack brings oil to the surface in the Monterey Shale, California, US April 29, 2013. REUTERS/Lucy Nicholson/File Photo

Oil steadied on Wednesday, supported by OPEC+ cuts and uncertainty over what may happen next in the Middle East conflict, although an outlook for ample supply next year added downward pressure.

Crude fell more than 4% to a near two-week low on Tuesday in response to a weaker demand outlook and after a media report said Israel would not strike Iranian nuclear and oil sites, easing fears of supply disruptions.

Brent crude oil futures were down 33 cents, or 0.4%, at $73.92 a barrel by 1110 GMT. US West Texas Intermediate crude futures lost 38 cents, or 0.5%, to $70.20, according to Reuters.

Still, concern about an escalation in the conflict between Israel and Iran-backed militant group Hezbollah persists. OPEC+ supply curbs remain in place until December when some members are scheduled to start unwinding one layer of cuts.

"We would be somewhat surprised if the geopolitical risk premium has disappeared for the time being," said Norbert Ruecker of Julius Baer.

"We see the market heading towards a supply surplus by 2025," he added.

On the demand side, the Organization of the Petroleum Exporting Countries and the International Energy Agency this week cut their 2024 global oil demand growth forecasts, with China accounting for the bulk of the downgrades.

Economic stimulus in China has failed to give oil prices much support. China may raise an additional 6 trillion yuan ($850 billion) from special treasury bonds over three years to stimulate a sagging economy, local media reported.

"Monetary and fiscal efforts to revive the Chinese economy are proving a damp squib," said Tamas Varga at oil broker PVM.

Coming up is the latest US oil inventory data. The American Petroleum Institute's report is due later on Wednesday, followed by the government's figures on Thursday. Both reports are published a day later than normal following a federal holiday.

Analysts polled by Reuters expected crude stockpiles rose by about 1.8 million barrels in the week to Oct. 11.