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Financial Compensation for NEOM Real Estate Owners Starts

Financial Compensation for NEOM Real Estate Owners Starts

Saturday, 23 May, 2020 - 06:30
Riyadh - Asharq Al-Awsat

Real estate owners involved in NEOM project will be financially compensated by the National Program for Community Development, Saudi Arabia announced Friday.


The program will compensate owners in Sharma, Qayal, Al-Khuraibah, Al-Asilah, Al-Sur, Bir Fahman, it said.


The announcement comes after the program said it was halting inventory work in April and compensation would be paid in record time, ahead of the deadline specified in the program’s schedule.


The program said it wanted to ensure that recipients are compensated in successive installments as soon as possible.


It added that it took into account the Health Ministry’s instructions and all precautionary measures to ensure the safety and health of the citizens and workers in the program to prevent the spread of the coronavirus.


According to the program, it will provide additional financial support to the residents of centers of the first stage of NEOM, in addition to a set of social and economic packages that will help improve their living standards.


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