Here is a rundown of ten top stories – Inside NEOM, Oman visa-free entry, Saudi Crown Prince announces five new PIF funds – you might have m...
Inside NEOM’s THE LINE: Saudi Arabia’s 170km city cutting straight through the desert
Located within NEOM in the Northwest of Saudi Arabia, THE LINE is a linear city that will be built on a footprint of just 34 square kilometres. The city intends to eventually accommodate over nine million people. The mirror facade allows the city to seamlessly blend into the nature around it.
With a reduced infrastructure footprint, THE LINE will have no roads, cars or emissions, running on 100 percent renewable energy with 95 percent of land preserved for nature. The city is built to prioritise health and well-being over transportation and infrastructure
The city will be just 200 metres wide but 170 kilometres long and 500 meters above sea level with ideal climate throughout the year and a high-speed rail offering residents end-to-end transit in 20 minutes.
Saudi Crown Prince announces five new PIF-backed funds in Bahrain, Oman, Iraq, Jordan, Sudan
Saudi Arabia’s Crown Prince Mohammed bin Salman announced Wednesday that the kingdom’s Public Investment Fund (PIF) would launch five new investment firms in countries around the Middle East.
The new companies are aimed at investing in Bahrain, Iraq, Jordan, Oman, and Sudan.
The announcement follows the launch of the Saudi Egyptian Investment Company (SEIC) in August 2022.
Together, all six companies will invest SAR90 billion ($24 billion) across a range of sectors in each country, the Saudi state news agency SPA reported.
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