Al Nassr secures 5-1 victory over Al Ain to edge closer to knockout stage    Saudi Deputy FM meets Lt. Gen. Al-Burhan of Sudan    Al-Khateeb: Saudi Arabia is the largest global investor in tourism sector "Saudi Land" pavilion inaugurated at World Travel Market in London    Saudi Crown Prince, Japanese PM discuss over phone efforts made to achieve peace in the region    Saudi Arabia, in its drive to enrich Arab culture, launches Arab Week at UNESCO in Paris    Neymar exits Al Hilal match with muscle injury, leaving fans disappointed    AlHisn Big Time Studios unveiled to transform film and TV production in Riyadh    Saudi Arabia approves cooperation agreement with US for the use of outer space for peaceful purposes    Quality of Life Program CEO highlights Saudi urban transformations at UN-Habitat conference in Cairo    Almarai wins 'Best Corporate Sukuk' at Asset Triple A Islamic Finance Awards    Top climber falls to death after rare Himalayan feat    US voters flying home in time for election    Drones and snipers on standby to protect Arizona vote-counters    India's Modi condemns violence after Canada temple incident    Elon Musk can keep giving $1m to voters, judge rules    Mitrovic's hat-trick leads Al Hilal to 3-0 victory over Esteghlal    Al Ahli extends perfect start with 5-1 victory over Al Shorta    Quincy Jones, titan of US music, dies aged 91    Hidden sugars in Asia's baby food spark concerns    HONOR unveils pre-order of the stunning HONOR MagicBook Art 14 Featuring an ultra-slim design, HONOR Eye Comfort Display and AI Cross-OS WorkStation    India puts blockbuster Pakistani film on hold    The Vikings and the Islamic world    Filipino pilgrim's incredible evolution from an enemy of Islam to its staunch advocate    Muted Eid celebrations for millions of Nigerian Muslims    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Crown Prince: NEOM will be listed on Saudi stock market in 2024
Published in The Saudi Gazette on 26 - 07 - 2022

JEDDAH — Crown Prince Mohammed bin Salman has announced that Saudi Arabia aims to publicly list NEOM in the local stock market in 2024.
Speaking to journalists on Monday after revealing the designs of THE LINE, the city of the future in NEOM, Prince Mohammed said that the listing of NEOM locally would add nearly one trillion riyals to the Saudi stock market and more than 5 trillion riyals by 2030 when more parts of the project would be completed.
The Crown Prince pointed out that all entities owned by the Public Investment Fund (PIF) would be listed publicly.
The Kingdom has plans to make the Saudi Stock market, currently ranked 7th in the world, one of the top three markets internationally, he said.
Prince Mohammed said the government would raise around SR500 billion in the capital by 2027 and tap the market for an additional SR200-300 billion for NEOM.
"The government will continue to finance the project for now with the support of PIF," he added.
The first phase of the project is due to finish by 2030. "We've already started construction and by 2030 NEOM will host 1.5 million residents and 9 million residents by 2045," the Crown Prince announced.
Residents will have access to all facilities in THE LINE within a five-minute walk, in addition to a high-speed rail with an end-to-end transit of 20 minutes.
The Crown Prince added: "NEOM will be a place for all people from across the globe to make their mark on the world in creative and innovative ways. NEOM remains one of the most important projects of Saudi Vision 2030, and our commitment to delivering THE LINE on behalf of the nation remains resolute."
The Kingdom aims to raise its population to 50-60 million by 2030, half of them foreigners, the Crown Prince said. "Riyadh as the capital will accommodate nearly 25 million people," he added.
The Crown Prince, who is also the chairman of the NEOM Board of Directors, announced the designs of THE LINE on Monday.
He said: "We are committed to a civilizational revolution that puts humans first based on a radical change in urban planning. The designs revealed today for the city's vertically layered communities will challenge the traditional flat, horizontal cities and create a model for nature preservation and enhanced human livability."
He noted that "THE LINE will tackle the challenges facing humanity in urban life today and will shine a light on alternative ways to live."
THE LINE is a civilizational revolution that puts humans first, providing an unprecedented urban living experience while preserving the surrounding nature.


Clic here to read the story from its source.