From the moment Saudi Crown Prince Mohammed bin Salman announced the launch of NEOM project on Tuesday, a project representing the next generation city and global center for innovation, trade and creativity in the kingdom, people wondered what does the project’s name stand for.
According to Al Arabiya the first three characters "NEO" comes from the Latin word which means “new”.
The fourth character "M" is the abbreviation of the Arabic word “Mostaqbal” which means “future.”
NEOM’s land mass will extend across the Egyptian and Jordanian borders, rendering NEOM the first private zone to span three countries. The project will be backed by more than $500 billion over the coming years by Saudi Arabia.
NEOM is born from the ambition of Saudi Arabia’s Vision 2030 to see the country develop into a pioneering and thriving model of excellence in various and important areas of life.
Saudi crown Prince Mohammed bin Salman appointed Dr. Klaus Kleinfeld, the former Chairman and CEO of Alcoa and Arconic Inc. as CEO of NEOM.
NEOM aims to thrive the transformation of the Kingdom into a leading global hub through the introduction of value chains of industry and technology.
8 things you need to know about Saudi Arabia’s innovative NEOM projectNEOM is the world’s first independent special zone stretching over three countries. It is set to become a new vibrant destination located in the ... Economy
Saudi Crown Prince launches NEOM, a ‘$500bn investment in the future’Saudi Crown Prince Mohammed bin Salman announced the launch of NEOM on Tuesday, a project that aspires to be the “safest, most efficient, most ... Economy
UK Times hails Saudi crown prince’s ‘riyal diplomacy’ to lead world economyRiyadh has sent a clear message of its desire to move away from the oil-dependent economy, diversify its resources, and put Saudi Aramco for initial ... Economy
King Salman meets with members of Saudi-Russian Business CouncilKing Salman met with members of the Saudi-Russian Business Council at his residence in the Russian capital Moscow on Thursday evening.Dr. Majed Bin ... Economy