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Published in:
2019 | OriginalPaper | Chapter
3. The Story of NEOM City: Opportunities and Challenges
Author : Alshimaa Aboelmakarem Farag
Published in: New Cities and Community Extensions in Egypt and the Middle East
Publisher: Springer International Publishing
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Abstract
The story of NEOM city starts when the Crown Prince Mohammed bin Salman announced the launch of NEOM, the futuristic megacity, on the conference “Future Investment Initiative” in Riyadh, Saudi Arabia, at 24 October 2017.
The Project’s promoters aspire to brand a new land where a plethora of unique development opportunities that could contribute to make NEOM a global hub for trade, innovation, and knowledge. The creative class around the world has been invited to participate in creating NEOM, with promises of a new life in a beautiful nature free place, and an independent economic zone with its own laws, taxes, regulations, and no restrictions. Future technology in transportation, growing and processing food, healthcare, internet of things, and digital air all should contribute to providing NEOM’s residents a unique lifestyle.
The project that starts with a fanfare might face a number of challenges, whether at the present or in the future such as the abstention of investor’s participation in such a current economic situation in KSA after the decline of world oil price, resistance of conservatives, the neighbors countries’ supporting, in addition to the time challenge. There is also a fear of repeating the failed experiments as Saudi kingdom will not be able to bear its costs.
The shortage of literature and references has been a big challenge when to write this article in such time, four months after the formal announcement of launching NEOM. However, this article raises several questions and inquires that help to predict future challenges that might face the decision makers and can be addressed if recognized early.