NEOM to see increase in construction projects: CNBC

PHOTO

Saudi Arabia is working to increase the construction of projects in its NEOM megaproject, CNBC Arabia reported, citing sources.

The Kingdom plans to offer tenders for building labor cities accommodating up to 100,000 workers, the sources added according to Argaam, the news portal.

Originally, the project was set to accommodate around 30,000 workers.

The authorities are close to offering five to 10 tenders over the next six months, with each city planned to accommodate nearly 10,000 workers.

Deloitte is advising the Saudi government on the project of establishing labor cities.

In October 2017, Crown Prince Mohammed bin Salman announced the launch of a new investment city, NEOM, in northwest Saudi Arabia, at a total investment of $500 billion, financed by the Saudi government, Public Investment Fund, as well as local and global investors.

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.