BUSINESS | NEOM’s First Stage Field Survey Completed

RIYADH – The National Program for Community Development (Tanmia) has completed field survey workers for real estate located within the first phase of the NEOM project.

The survey in the northwestern region of the Kingdom, which began in mid-February, allowed NEOM to become free from any ownership restrictions or private rights.

The stage precedes the start of real estate appraisal and the payment of fair and remunerative compensation in preparation for receiving real estate from original owners.

Tanmia – a government agency concerned with communicating with beneficiaries at community  development operations sites – will follow up the transition phase, to ensure the provision of a number of additional social and economic packages for the landlords.

Last year, NEOM launched the first stage of projects and began in August building the residential area, by awarding construction, financing and operating contract for housing complexes to two Saudi companies.

NEOM was established as a closed joint stock company in January 2019, and it is fully owned by the Public Investment Fund.

The company announced it would rely on a modern technology that uses solar energy to produce clean, low-cost fresh water in  a way that is environmentally friendly and carbon neutral, as  a step to enhance the position of the project as a new global destination, and a promising center for innovation and environment conservation.

In January, the company launched NEOM academy, which aims to develop the national manpower and created thousands of job opportunities for the members of the local community, with the aim of contributing to the Kingdom’s Vision 2030.

NEOM signed with the Technical and Vocational Training Corporation, a special memorandum of understanding, which contributes to providing training for about 6,000 Saudi citizens, who will later obtain suitable jobs within the many opportunities that the project will offer.


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