Home
Saudi Arabia is building a giant city in the desert
25/11/2017 12:00 am [rtl]Translated by Khaled Kassem Saudi Crown Prince Mohammed bin Salman plans to build the city of Neum on a sandy peninsula in the northwest of the kingdom, a city larger than Dubai with more robots than humans. The crown prince sees the city as a "cultural leap for humanity" outside the traditional constraints and an economic revolution that includes the latest in the world in the areas of manufacturing, biotechnology, media and aircraft. The city is supposed to represent Saudi Arabia's efforts to move a country that has been swimming with oil money and facing severe financial pressures. "The city is an attempt to create a more efficient and simpler macroeconomic area that needs time to be reformed," says James Dorsey, a Middle East specialist at the University of Singapore. "The question is whether it is possible to isolate a giant city from the shortcomings of the country's economy." The city is another example of the Crown Prince's desire to spend money on projects regardless of resource constraints. The discovery comes after plans for a giant entertainment city, a tourist resort and a change of waterfront in Jeddah on the Red Sea. In line with Vision 2030, this project is very ambitious, because the Gulf region is full of skyscrapers, but no city has been able to match Dubai as a global economic center, let alone surpass it. It took decades to develop Dubai into a tourist destination and build the world's tallest tower and regional headquarters for global banks such as Standard Chartered and Dubai's third world-class airport after Atlanta and Beijing. "The city is creating a new demand that is not the same as that of Dubai, and it is helping Dubai, Bahrain and especially Kuwait because it will be exported to Europe faster and cheaper," Prince Mohammed bin Salman said. " Part of the city is located in the Ras al-Sheikh Humaid area, a 50-km peninsula in the waters of the Red Sea. Approximately 26,000 square kilometers have been allocated for the development of the urban area that will extend in Jordan and Egypt, more than twice the size of the State of Qatar. The region was chosen because of its strategic location and its proximity to international shipping routes. The road passing through the future city cuts off an arid desert bordered on the right by white hills and desert plains. When crossing the turquoise waters, there is a base for Saudi border guards and a communications tower. The prince knows in advance what he wants from the coastal strip, and the Gulf Nyum will start as an operational hub for the city and resemble the group of the Hampton Islands in New York at a later stage, the prince said. But that does not mean more jobs for Saudi youth who are increasingly angry because of the lack of opportunities available to them, and the little crown prince about it: " It is not the duty of Neum create jobs for Saudis, a duty Neum to be a global hub for everyone in the whole world." Kingdom 's Vision 2030 supported by the largest establishment A sovereign wealth fund in the world, which has already saved $ 20 billion to an infrastructure fund with Blackstone Group and $ 45 billion to a technology fund run by Softbank.[/rtl] [rtl]http://www.alsabaah.iq/ArticleShow.aspx?ID=148023[/rtl] |
» PM stresses Iraq's aspiration to strengthen cooperation and partnership with the US within the Strat
» US dollar exchange rate increases in Iraq
» Iraq reviews cooperation with Honeywell in energy sector
» Environment: US withdrawal from Paris climate agreement threatens Iraq
» Users having a birthday today : dcbelanger
» Central Bank: Closing the electronic platform enhances financial stability
» UGT donates feasibility study to Iraq on bringing solar energy to homes
» "Oil Money Is Not Enough" Parliament's Finance
» "Oil Money Is Not Enough" Parliament's Finance
» Clarification of the importance of the Central Bank’s decision to ban the sale of real estate above
» Signing a memorandum of understanding with British Petroleum / BP regarding a program to evaluate th
» Al-Sudani receives in London the CEO of GE for the Europe, Middle East and Africa region
» Iraq, General Electric discuss energy initiatives
» Shell plans to increase investments in Iraq
» Iraq’s economic growth forecast for 2024: A promising path forward
» Parliamentary Finance: Banking reform enhances Iraq's global
» Localization.. Signs of positive development to support the national economy
» Experts call for activating the agriculture and industry sectors
» The Central Bank of Iraq directs banks to spread and expand their financial services
» Al-Sudani: British exports to Iraq exceeded $1 billion in 2024, and its companies concluded contrac
» Above $80.. New rise in oil prices
» Coordination Framework announces agreement to move forward with budget amendments to achieve "social
» I regret to inform you after 20 yrs of postings
» Central Bank of Iraq sells over $1.16 billion in foreign currency
» Iraq-China trade cooperation reaches $50 billion in 11 months
» Salih: Iraq ranks first in the world in the concentration of natural resources
» PM Advisor: The monetary enhancement mechanism will safeguard financial stability in the country
» Government Adviser: Non-Oil GDP Growth in 2024 Reaches Unprecedented Levels
» Parliament conforms to World Bank on the importance of government infrastructure in development
» PM: Restructuring government banks to ensure the availability of capabilities and openness with glob
» entral Bank: There is no financial problem threatening employees’ salaries and we have great capabil
» Basra crude achieves weekly gains amid rising oil markets
» The dollar falls against the dinar in Baghdad and Erbil with the closing at the beginning of the wee
» PM Al-Sudani eyes tourism as a cornerstone of Iraq’s non-oil economy
» PMF Chief: Iraq's armed forces at their strongest
» INA discusses exchange rates files, foreign transfers, and housing initiatives with the CBI governor
» Government Adviser: Non-Oil GDP Growth in 2024 Reaches Unprecedented Levels
» Parliament conforms to World Bank on the importance of government infrastructure in development
» Iraq exports oil worth over $5 billion to US in 11 months
» Iraq’s Ministry of Oil announces 2024 petroleum product sales
» US dollar exchange rate continues to decline in Iraq
» Iraq completes 400-kilometer security border wall with Syria
» Iraq collaborates with Ernst & Young on state-owned bank reforms
» Kurdistan records a significant increase in the number of imported cars during 2024
» The Ministry of Justice announces the implementation of the electronic payment system in all notary
» The Ministry of Justice counts the achievements and activities achieved during the past year accordi
» Central Bank: We have started working with the correspondent banking system
» Is the Ministry of Finance hiding the facts?.. An expert reveals the main reason for the shortage of
» Reconstruction: 2025 plan includes 70 external road projects
» Economist: The government is obligated to pay salaries as it is a matter of fate
» The Central Bank of Iraq opens new horizons in foreign transfers and enhances international financia
» Judge Zidane and Al-Sudani are the first to disclose their financial assets in 2025
» Oil Price: Trump's Team Considers 'Direct Sanctions' on Iraq That Will Hit Oil
» Parliamentary Integrity: The amounts recovered from the “theft of the century” do not exceed 5%, and
» Dinars entering the Ministry of Finance are 20% less than the amount it needs.. Iraqis start their n
» Mazhar Saleh: No salary crisis and financial reserves cover liquidity completely
» Central Bank announces major achievement in foreign transfers
» Confirmation that America is putting pressure on Al-Sudani to transform the Iraqi regime into "secul
» Warnings of the dangers of the Turkish-Zionist-American plan to destabilize Iraq
» Expert: Iraqi economy is stable despite changes in the dollar market
» Economist praises ASYCUDA automation system: A step towards achieving important resources
» More than $60 billion in Iraqi currency auction sales in 2024
» Is there a salary crisis in Iraq? Al-Sudani’s advisor explains
» The Central Bank decides to suspend withdrawals and deposits for four days
» Al-Sudani Office announces the implementation of the global ASYCUDA system to automate customs opera
» The leaders “reconciled” and the amendment of the electoral law is “a done deal”.. What does this da
» With the document .. MP Sand files a complaint against the Ministry of Finance .. for this reason
» Parliamentary Finance: The government is working to enhance non-oil revenues
» The 10 most indebted Arab countries in 2024.. This is Iraq's rank
» utube 12/27/24 MM&C MM&C Iraq Dinar News-Iraqs Wealth Fund-National Currency-Arab World Volume Tra
» utube 12/28/24 Iraq - CBI Governor Makes an Announcement, Digital Banking Expansion
» utube 12/29/24 MM&C MM&C Iraq Dinar News-Digital Transformation-Global Economic Power-USA-Imminent
» utube 12/31/24 MM&C MM&C Iraq Dinar News-Commemorative Coin?-Investment Attractive-Dollar Auction
» Al-Sudani chairs expanded meeting to review Oil Ministry projects
» Prime Minister stresses importance of investing best opportunities to maximize state revenues
» Prime Minister's Office announces implementation of ASYCUDA global system for automating customs ope
» Judiciary: Recovering 12 billion dinars for financial fraud crime
» US-Iranian Tension: Iraq Between Competition and Mediation Role After Trump’s Return
» MP confirms settlement of controversy over ministerial amendments
» National Union: Time is no longer sufficient for the dialogue on the oil and gas law to mature
» Economist: Relying on oil as a source of revenue will have serious consequences
» Al-Maliki: Repeated amendments to the election law weaken voter confidence in the political process
» Parliamentary Legal: Interrogating ministers and officials is still subject to political agreements
» Due to the American veto, Iraq suffers from a weak armament in the face of regional developments
» What is holding up the passage of the oil and gas law so far?
» New Cabinet Resolutions Package
» Experts speak to {Sabah} about the most important economic events in 2024
» Al-Sudani stresses the importance of review and investing the best opportunities to maximize state r
» With more than 30 billion dollars... a leap in the projects market in Iraq
» Central Bank of Iraq sells about $290 million in currency auction
» Customs: Our revenues increased by 128% during the current year
» Our Economic and Financial Vision for 2025 in Iraq
» How much of Iraq's electrical system has been lost due to the halt of Iranian gas?
» $31.7 billion is the increase in the value of its market projects in Iraq
» Turkmen gas will cover 50% of Iraq's stations' needs.. New details about the agreement
» Basra-Haditha oil pipeline.. will go to 5 countries and this is its value
» Early talk about postponing the elections is “evidence” of Iraq’s entry into the map of change in th
» New details on the incident of the "death of a US National Guard soldier" in Iraq - Urgent