NEOM Chief Urban Development Officer: The Line to Represent an Int’l Standard for World Cities

The Line will change the way of life and behavior of the population. Asharq Al-Awsat
The Line will change the way of life and behavior of the population. Asharq Al-Awsat
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NEOM Chief Urban Development Officer: The Line to Represent an Int’l Standard for World Cities

The Line will change the way of life and behavior of the population. Asharq Al-Awsat
The Line will change the way of life and behavior of the population. Asharq Al-Awsat

Antoni Vives, Chief Urban Development Officer at NEOM, said that ongoing works in the city of The Line are accelerated to complete several stages and start welcoming residents and visitors by 2025.

In an interview with Asharq Al-Awsat, Vives noted that the city, which is scheduled to be fully completed by 2030, would be the home to the biggest developers of the knowledge economy environment worldwide, as the project aims to be a benchmark for the perceptual city in the world.

The plans are proceeding in an integrated manner that is consistent with the nature of the modern city, in accordance with the requirements of NEOM, with the goal to transform the vision of the Saudi Crown Prince into reality, he emphasized.

Vives also revealed that the city’s airport – one of the largest in the world – would be ready before 2030.

The project aims to transform all challenges into amazing solutions and opportunities to build a different human future by exploiting the latest types of modern technology, through a cognitive city that uses artificial intelligence, away from congestion and noise, and protected from carbon and industrial pollutants, he underlined.

According to Vives, great work has been achieved in the initial stage of the project over the past three years.

He revealed that The Line would change the way of life and behavior of the population, in a manner that preserves a safe and pure environment, while providing an amazing lifestyle in terms of food, sports, transportation, tourism and other features.

It will be an astounding city; yet, it is racing against time to exploit the latest technologies. It is a city with amazing modern technological development and constant renewal, he said.

Vives stressed that attracting global residents and investors to NEOM was a continuous strategy that would be always maintained, as it seeks to create a new and attractive world that gives human life a wide range of luxury and happiness with its large areas of fun and gardens of beauty.

This part of the world is not just a piece of land, but an integrated life structure, in which the means of transport run in an unprecedented modern way, where senior researchers, scientists and innovators work to make everything within reach in a different, unconventional way, far from anything familiar, the NEOM Chief Urban Development Officer told Asharq Al-Awsat.

The Line aims to be the international standard for world cities, he said, adding that all business, machinery, and services will be managed with renewable energy, which enhances the added value of energy in the city, away from pollution.



Saudi Sovereign Wealth Fund Launches First Global Commercial Paper Program

 The Saudi capital, Riyadh (SPA) 
 The Saudi capital, Riyadh (SPA) 
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Saudi Sovereign Wealth Fund Launches First Global Commercial Paper Program

 The Saudi capital, Riyadh (SPA) 
 The Saudi capital, Riyadh (SPA) 

The Public Investment Fund (PIF), Saudi Arabia’s sovereign wealth fund, has launched its first-ever global commercial paper program, marking a significant step in strengthening its short-term financing capabilities and expanding its reach in international capital markets.

According to an official statement, the program allows for the issuance of commercial paper through Special Purpose Vehicles (SPVs). It consists of two sub-programs: one for the US market and another for the European market.

The program has already earned top credit ratings: Moody’s assigned it a Prime-1 (P-1) rating, the highest short-term grade, while Fitch Ratings awarded an F1+ rating, also its highest for short-term instruments.

Fahad AlSaif, Head of Global Capital Finance and Head of Investment Strategy at PIF, said the launch aligns with the Fund’s broader financing strategy. “This program reflects our flexible and effective approach to funding, designed to support our long-term investment priorities,” he noted.

Commercial paper is widely used in global financial markets as a tool for short-term liquidity management. PIF’s program is expected to enhance its agility in managing cash flow while complementing its long-term funding plans.

Mohammed Al-Farraj, Head of Asset Management at Arbah Capital, told Asharq Al-Awsat that the initiative highlights PIF’s commitment to robust liquidity management and its ambition to lead both domestically and internationally. He called the move a “strategic addition” to PIF’s funding ecosystem, noting that the strong credit ratings will allow the Fund to secure financing at competitive rates, positioning it to capitalize on key investment opportunities without being overly exposed to short-term market volatility or interest rate risks.

Al-Farraj added that the launch supports PIF’s strategy to diversify its funding sources and balance short-term needs with long-term goals. He pointed out that it will help drive major projects in critical sectors such as renewable energy, future industries, and advanced technology - key pillars of Saudi Arabia’s Vision 2030.

He also emphasized the program’s role in strengthening Saudi Arabia’s standing as a global financial hub and increasing its appeal to international investors.

The initiative follows PIF’s broader financing roadmap, which includes issuing green bonds - such as its landmark $3.5 billion sukuk offering - and reflects its continued pursuit of innovative, sustainable funding solutions to fuel the Kingdom’s economic transformation.