The construction of smart cities: a new stage of development in real estate?

• Neom: a milestone in urban development

• Plans and investments in the Neomom project

• The development of the economy of Saudi Arabia: new opportunities and challenges.

• Cities of the future: global trends and ambitious projects

Neom: a new project for the future

Neom is a large-scale project that aims to change the world by going beyond the existing reality. The name of the project has a deep meaning: "neo" from ancient Greek means "new," and "moustakbal" from Arabic means "future," highlighting its advanced and innovative ideas.

Location and climate

The location of this ambitious city is also special: 26.5 thousand square kilometers in the most northwestern corner of Saudi Arabia overlooking the Red Sea. The unique climate and proximity to nature make Neom special: it is 10 degrees cooler than other Middle Eastern countries and the snow-capped mountains give it a unique charm.

Robotics and renewable energy

In 2017, Saudi Arabian Prince Mohammed bin Salman announced that in this new megacity, labor-intensive tasks would be performed by robots, ensuring clean streets and even managing public transportation. Neom will also be entirely powered by renewable energy, such as solar and wind, surpassing other cities in this area by 70%.

The symbiosis of technology and nature

This ambitious project not only creates a new reality, but also changes the approach to urban development and the environment. Neom is a harmony between technology and nature, a place where humans and machines work in symbiosis. Modern technologies and innovative ideas make Neom the best place to live, work, and relax.

Sample for other cities

This unique project is intended to serve as a model for other cities of the future, demonstrating how modern technologies can be used for the benefit of society and the environment. Neom is not just a city; it is a showcase of the modern world, where every detail is meticulously designed for the comfort of its inhabitants.

Movement: no cars or high-speed transport for the Neom project

An important part of this project is a new city called Line, where cars will be completely banned. Residents will be able to get around on bicycles or scooters for short distances, while high-speed public transport will be available for longer trips, taking them anywhere in the city in just 20 minutes. The construction of Neom is progressing so quickly that the first residents and tourists are expected to start arriving as early as 2024.

Plans for tourist destinations

At Arabian Travel Market 2021, Nazmi Al-Nasr, head of the project, announced Neom's plans to welcome up to one million tourists by 2025 and five million by 2030.Opening of 15 hotelsAnnually from 2023 to 2025 - part of the plan to ensure comfortable accommodation for visitors.

Focus on the economy and innovations

Economically, Neom will focus on innovations in media, food production, digital technologies, new energy sources, and biotechnology. The media and creative industries will become key areas, as Neom aims to be a hub for content creation—from films to video games. Wayne Borg, the managing director of the media, culture, and entertainment sector of the project, stated that filming is already underway for a major feature film with a budget of $100 million, making Neom the largest film production in the region.

Investments in the project

The cost of the Neom project is $500 billion, and the funding is provided by the Saudi Arabian Sovereign Fund, the Public Investment Fund, as well as private investors, including Russians. The Russian Direct Investment Fund (RDIF) has been involved in the project since 2017, attracting leading domestic companies in the fields of high technology and innovation.

In the spotlight: the mosque in Medina

Particular attention is given to Saudi Arabia's ability to diversify its economy, develop the service sector, and attract foreign investment.

Economic development in Saudi Arabia

In Ramey, the kingdom has laid the foundations for a dramatic change in the economic climate, responding to the challenge of the times. They are ready to change the unsustainable dependence on oil and fundamentally alter the country's development path. This will impact not only the economy, but also the lives of the people of Saudi Arabia itself.

Development of infrastructure and technology

The creation of a "smart city" in Neom is not just a logical step forward, but also a crucial factor in the kingdom's ambition to rise in the rankings of the world's largest economies to the top 15. This will become a reality thanks to advanced technologies and an influx of foreign investments.

Openness to investors and immigrants

In recent years, Saudi Arabia has taken a bold step by opening up to international investors and immigrants. A special economic zone for investments has been established at King Khalid Airport in Riyadh, and an alternative to the French Riviera has emerged in the northwest of the country.

Innovation in visa policy and economic transformation

In 2019, electronic visas were introduced for foreign participants in events, and Russia ranked 10th in terms of the number of tourists. At the end of 2019, Saudi Arabia innovatively introduced "golden visas," allowing non-residents to purchase real estate and start businesses.

Conditions for foreigners and the effectiveness of the measures taken

Previously, foreigners could only stay in the country under a standard system that required them to obtain permission from a sponsor to leave the kingdom and change jobs.