NEOM

Tabuk Province, Saudi ArabiaNew CityUnder development

A PIF-backed mega-project in northwestern Saudi Arabia comprising multiple sub-developments including The Line, Trojena, Sindalah, and Oxagon.

Last verified: 2026-05-01Submit a correction →Visit site

Founded

2017

Status

Under development

Operating entity

NEOM Company (joint stock; PIF-owned)Saudi Arabia[src]

Total funding

$500Bas of Original announcement[src]

Population

24,000 / 9,000,000current / target[src]

Target completion

2045 (original); now extended

Founders & Leadership

Mohammed bin Salman[src]
Crown Prince and Chairman of NEOM Company
Aiman Al-Mudaifer[src]
CEO (permanent appointment May 2025; previously acting from Nov 2024)
Yasir Al Rumayyan
Governor, Public Investment Fund (backer)

Funding

Total raised: $500B (as of Original announcement)[src]

Originally announced $500B; internal WSJ-leaked audit (2025) projects $8.8 trillion total cost. Phase 1 $370B (completion 2035). PIF write-down of $8B in 2024.

Investors

Public Investment Fund
Sovereign Wealth
Government of Saudi Arabia
Government
DataVolt
Firm[src]
Mercedes-EQ
Firm[src]

How to join

NEOM jobs portal
JobApply / Learn more
Tenant / business on site
Tenant
Oxagon (industrial) and Sindalah (hospitality) host businesses.

Goals

Originally $500B / 9M residents by 2045; revised toward data centers and industrial focus after scale-back.

Target population — 9,000,000
Target completion — 2045 (original); now extended

Press

Bloomberg · 2024-04-05Saudis Scale Back Ambition for $1.5 Trillion Desert Project Neom
AGBINEOM / The Line giga-project tracker

Official channels

Unverified or unconfirmed

exact PIF total commitment to date, executive twitter handles. Have a correction? →