The second phase strategy of NEOM will be complete by the end of 2019, with the project targeting 1 million people and 5 million visitors by 2030, announced NEOM CEO Nadhmi al-Nasr.
Speaking to over 160 diplomats who attended NEOM’s first ever beach sports events, Nasr stated that the first phase of NEOM’s construction is now complete and phase 2 strategy has started.
“We started Phase 2’s strategy, and we will finish that by the end of 2019, which means by the end of the year we will share with the world what NEOM is going to be,” the CEO added.
He explained that one of NEOM's business objectives is to be the home for new technologies that will affect the next wave of industrialization, adding that to launch this development, NEOM plans to fund technical development and partner with international technical firms.
The second phase of the strategy will include the announcement of the details of the 16 economic sectors covered and the areas of NEOM.
Tourism is one of its 16 economic sectors, and that is why NEOM plans to be a major destination for visitors and tourists through the development of island and mountain resorts.
Nasr admitted that attracting such a huge number of visitors is a challenge, with some even saying “this is a long shot, but our business is to only address long shots.”
He told the attendees that NEOM is strategically situated in a location accessible by 70 percent of the global population within eight hours, as Rome can be reachable by air in around three hours, while London is five hours away.
Nasr said that NEOM is in talks with many international investors even at this initial stage of the project, noting that the search for partnership opportunities with many trading partners in the world is still underway.
He concluded: “We started NEOM but we aren’t going to finish. There is no end to NEOM.”
In his address, he invited the diplomats to be part of NEOM. “We want you to think that one day you could be living in NEOM, working and retiring in NEOM, and of course, we don’t mind you investing in NEOM.”
