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NEOM CEO: We Will Be Model for New Economy Modern Projects, Cities

NEOM CEO: We Will Be Model for New Economy Modern Projects, Cities

Thursday, 26 January, 2023 - 09:00
NEOM CEO Nadhmi Al-Nasr participates at the 2nd Municipal Investment Forum “FURAS” (Asharq Al-Awsat)

NEOM will be a model for modern projects and cities that represent the focus of the new economy, said CEO Nadhmi Al-Nasr. It will do so by embracing many different companies and industries while attracting qualitative foreign investments.

Al-Nasr pointed to NEOM’s efforts in implementing a circular economy based on model future thinking that enacts change at the level of production sectors and the standard of living. This enhances the contribution to the GDP.

He stressed that the giga project would produce 100 % clean energy on a large scale sufficient to operate at the level of NEOM’s energy needs while achieving net zero carbon emissions.

Al-Nasr pointed out that NEOM’s ambition is to build human-centered cities, which will change the global concept of traditional cities, which are usually built for cars and streets without any consideration for nature and people.

Speaking at the 2nd Municipal Investment Forum “FURAS,” Al-Nasr added that the NEOM project will redefine the concept of the city by embracing a 9 million population, and employing the city's resources, in addition to creating a new concept of environmentally friendly tourism.

He added that the project will offer several investment opportunities, various types of projects with different volume levels.

NEOM city is considered a gift from Saudi Arabia to humanity, affirmed al-Nasr.

During the Forum, Mayor of the Riyadh Region Prince Faisal Bin Abdulaziz Bin Ayyaf announced that Remat Al-Riyadh Development Company — the developmental arm of Riyadh Region Municipality — has offered the most significant investment opportunity of its kind in the region to invest in outdoor advertising in Riyadh city, in partnership with the private sector.

This investment opportunity includes building, operating, and maintaining outdoor billboards of different formats, in addition to the development of a number of digital zones.

It also focuses on operational excellence by including the highest technical, environmental, security, and safety standards; as well as comprehensive evaluation criteria to measure the expertise and capabilities of the potential investors in order to manage and operate the project with quality and efficiency, in accordance with the best international practices followed in the sector.

This is to contribute to unleash the potential of the Riyadh region by upgrading the level of municipal services and projects that aim to improve the urban landscape, raise the level of quality of life for the residents and visitors of Riyadh region, and achieve sustainability in the urban development of the region.

It is also considered the first in a series of investment opportunities launched by Remat Al-Riyadh Development Company, as it comes within the framework of what the company announced upon its launch by offering many possible investment opportunities to enable private sector participation.

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