“It would be a microcosm of Saudi Arabia 2.0 while its new 32-year-old leader reconfigures the rest of the economy to make it fit for the modern world in a way that past rulers have failed to do. Other massive cities in the desert have been announced with much fanfare, then have floundered short of expectations, like the $10 billion office park on the outskirts of Riyadh sitting largely unoccupied and unfinished.”
““The first capitalist city in the world … this is the unique thing that will be revolutionary,” said Prince Mohammed, heir to the throne of the largest Arab economy, an absolute monarchy.
“Without a doubt, at the end of the day NEOM will be floated in the markets. The first zone floated in the public markets. It’s as if you float the city of New York.””
“As part of the work on Neom, RDIF plans to attract leading Russian companies working in solar energy, health, artificial intelligence technologies, high-speed transport, and the construction of port infrastructure.
RDIF, which is already an investor in Hyperloop, said the technology can be successfully used in Neom.
According to Dmitriev, Russian companies could also help turn Neom into a hub for the export of Russian agricultural products to the Middle East.”