Phase 1 construction on Saudi Arabia’s $500bn Neom complete

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Strategic work on Saudi Arabia’s Public Investment Fund-backed (PIF) futuristic Neom gigaproject will complete by the end of 2019, chief executive officer of the project, Nadhmi Al-Nasr said during a tour of the development by 160 diplomats, adding that construction work on Phase 1 of Neom, worth $500bn had been completed.

He added: “By the end of [2019], we will share with the world what Neom is going to be.”

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According to Saudi news agency, SPA, Al-Nasr said more facilities were being constructed at Neom Bay, the gigaproject’s first urban area where the Neom Bay Airport recently opened.