Construction has already begun on Neom, the city being built in the desert but money woes have arisen on the project.
Saudi Arabia is urgently seeking investment from China for its ambitious Neom megacity project, which is at the heart of Crown Prince Mohammed bin Salman's Vision 2030 strategy.
The plan aims to diversify the kingdom's economy away from fossil fuels and transform it into a global hub for innovation and technology.
Read more: Saudi Arabia begs China to help as it 'runs out of money' for huge new £1tn mega-city
- Saudi Arabia is seeking investment for its Neom megacity project from China.
- In recent years, China has signed various tech deals with Saudi Arabia.
- But the US is warning of consequences if the Saudis draw too close to China.
At a recent exhibition in Hong Kong, Saudi Arabia showcased its futuristic vision for its planned Neom megacity.
SA: SDAIA President Discusses AI, Smart City Projects with Republic of Korea Infrastructure Minister
Saudi Data and Artificial Intelligence Authority (SDAIA) President Dr. Abdullah bin Sharaf Al-Ghamdi met today in Seoul with the Republic of Korea Minister of Land, Infrastructure, and Transport Sang-woo Park.
During the meeting, which was attended by Saudi Ambassador to the Republic of Korea Sami Al-Sadhan and several SDAIA officials, the two sides discussed prospects of cooperation between the two friendly countries in artificial intelligence (AI) and smart cities.
Korean companies may not be able to enjoy the benefits they have anticipated from Saudi Arabia’s NEOM project, as the Middle Eastern country appears to be scaling down the urban development project amid its prolonged financial difficulties, according to industry officials, Monday.
Major construction firms in Korea initially sought to win large-scale orders for the project to overcome a recent slump in the domestic housing market.
Read more: Saudi Arabia's NEOM project unlikely to match Korean firms' expectations
Saudi Arabia, the land of innovation and transportation, is moving towards a revolutionary urban development project that will redefine the city of living with poise and ultra luxurious features. Referred to as The Line Project, the great initiative is part of NEOM initiative of Saudi Arabia’s urban planning and sustainability model. This project aims to be a paradigm shift and improve the quality of living with various enhanced and progressive features. The Line Project is slowly and steadily transforming itself into a clear path of progress and moving towards its end goal. In this blog, we will try to learn more about this great innovation, will explore its vision and how it will impact the urbanisation landscape.
Read more: SA: The Line Project: A Vision for the Future of Urban Living