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Neom has awarded the construction, financing and operation of the first labor housing complexes to be transferred to the city by two national companies.
The contracts represent Neum's first investment opportunities for the construction of the world's most ambitious city.
The first company signed contracts for the construction of two residential complexes with a capacity of 10,000 workers, while the other company was awarded the contract to build a residential complex with a capacity of 10,000 workers. Both companies will operate these complexes for 10 years.
The engineer Nazmi Al Nasr, general manager of the Neum project, expects that the development of this project will take several years, due to the immense size of the city, stressing that she wanted to offer a high quality of life for all who move to work there, in addition to offering attractive investment opportunities for developers and investors.
The project is under development on an area of 26,500 km 2 in the north-west of the Kingdom and should be one of the pillars of the economic transformation of the Kingdom to provide various sources of income to the economic and investment sectors real estate.
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