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Saudi Arabia: Crown prince unveils plans for $500 billion mega city01:30

Saudi Arabia: Crown prince unveils plans for $500 billion mega city

Saudi Arabia, Riyadh
October 25, 2017 at 07:51 GMT -00:00 · Published

Saudi Crown Prince Mohammed bin Salman announced plans to build a new mega city on the Red Sea coast, speaking at a global business conference in Riyadh, Tuesday.

Explaining the project, called 'NEOM', the prince said that "In the winter, the mountains are covered with snow. In the summer, the weather is mild and ten degrees lower than the rest of the capitals and cities of the Gulf, this is our vision."

The city will be backed by more than $500 billion (€425bn) investment from the Saudi government, the country's sovereign wealth fund and local and international investors, according to a statement released at the conference in Riyadh.

El Príncipe Heredero de Arabia Saudita Mohámed bin Salmán anunció sus planes para construir una megaciudad en la costa del Mar Rojo, durante su intervención en una conferencia de negocios global en Riad este martes.

Explicando el proyecto, llamado 'NEOM', el príncipe dijo que "en el invierno, las montañas están cubiertas de nieve. En el verano, el clima es templado y diez grados más bajo que el resto de las capitales y ciudades del Golfo, esta es nuestra visión”.

La ciudad contará con el respaldo de más de 500,000 millones de dólares de inversión del gobierno saudí, el fondo de riqueza soberana del país y los inversores locales e internacionales, según un comunicado emitido en la conferencia en Riad.

Saudi Arabia: Crown prince unveils plans for $500 billion mega city01:30
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Saudi Crown Prince Mohammed bin Salman announced plans to build a new mega city on the Red Sea coast, speaking at a global business conference in Riyadh, Tuesday.

Explaining the project, called 'NEOM', the prince said that "In the winter, the mountains are covered with snow. In the summer, the weather is mild and ten degrees lower than the rest of the capitals and cities of the Gulf, this is our vision."

The city will be backed by more than $500 billion (€425bn) investment from the Saudi government, the country's sovereign wealth fund and local and international investors, according to a statement released at the conference in Riyadh.

El Príncipe Heredero de Arabia Saudita Mohámed bin Salmán anunció sus planes para construir una megaciudad en la costa del Mar Rojo, durante su intervención en una conferencia de negocios global en Riad este martes.

Explicando el proyecto, llamado 'NEOM', el príncipe dijo que "en el invierno, las montañas están cubiertas de nieve. En el verano, el clima es templado y diez grados más bajo que el resto de las capitales y ciudades del Golfo, esta es nuestra visión”.

La ciudad contará con el respaldo de más de 500,000 millones de dólares de inversión del gobierno saudí, el fondo de riqueza soberana del país y los inversores locales e internacionales, según un comunicado emitido en la conferencia en Riad.

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