Neom shares details of future opportunities with over 100 global contractors

Neil Gerrard Senior Editor, Construction Briefing

15 April 2024

A group of construction professionals in hi-vis vests and hard hats survey progress on a site in Neom, Saudi Arabia

Over 100 contractors visited Saudi Arabia’s special economic zone Neom (Image courtesy of Neom)

Over 100 contractors from around the world have gathered at Saudi Arabia’s Neom to be briefed on the progress of construction works and future opportunities in the special economic zone.

The companies joined a two-day forum as Neom moves on to the next stage of its huge portfolio of projects that collectively are worth an estimated $500 billion.

A statement from Neom said that the forum came as it transitions into a “new phase of execution”, prompting demand for “top-tier construction proficiency”.

It made specific mention of the Line, the 170km-long linear city and while it did not mention a recent report from Bloomberg that suggested the project has been scaled back, it did state that it is to be build in “modular phases”, with the first residents able to move in in 2030.

Visiting contractors were shown progress on the Line, as well as the high-speed rail line that will connect it, called the Spine, the industrial port city of Oxagon on the Red Sea, the mountain tourism destination of Trojena, and the Neom International Airport.

Nadhmi Al-Nasr, CEO of NEOM, said, “As we go into our busiest ever phase of development, the scale of opportunities across NEOM is monumental. With projects progressing fast across all parts of the region, we are committed to collaborating with globally renowned contractors to achieve the vision of NEOM.”

The event also included one-on-one meetings, during which specific business opportunities were discussed as contractors displayed their services and capabilities.

The forum hosted a mix of firms from Saudi Arabia, along with international firms from Asia, Europe, North America, and North Africa.

The construction workforce across Neom currently stands at 140,000 and is set to grow to over 200,000 by next year. Construction Briefing has previously reported on how demand is ramping up in the region, spurring the recruitment of more skilled construction professionals from overseas.

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