RIYADH NEOM, the world’s most ambitious project to be built in the Northwestern part of Saudi Arabia on the Red Sea coast, entered the first phase of actual development after accelerating preparation works to develop the infrastructure of the first residential area.

NEOM Bay, a luxurious touristic destination, will be the first urban area to embrace the future population in NEOM, which is planned to be one of the most attractive destinations worldwide for investments and sustainable economic development.

Crown Prince Muhammad Bin Salman, deputy premier and minister of defense, announced the launch of NEOM project during the first edition of FII on Oct. 24 last year.