Total spending on infrastructure in NEOM reaches 140 billion riyals

Dennis Hickey, Chief Development Officer at NEOM, revealed that the total spending on infrastructure in the “NEOM” project has so far reached about 140 billion riyals. This came during one of the sessions of the Public Investment Fund and Private Sector Forum 2025.

“NEOM” is considered the largest project within the Kingdom’s plan to diversify its economy, and investments in the first phase of the project amount to 1.2 trillion riyals.

“NEOM” has concluded contracts during the last three months to accelerate the completion of the infrastructure, as it contracted in November with 3 companies to deliver the basic plan and designs for the first phase of “The Line” city, which represents one of the 5 main areas included in the project. These contracts came after multiple reports of reducing spending and reducing the area of ​​the city.

The third edition of the “Public Investment Fund and Private Sector Forum” and its accompanying exhibition kicked off last Wednesday at the King Abdulaziz International Conference Center in Riyadh. The event will continue for two days, February 12-13, 2025. The forum, which is the largest platform of its kind in the Kingdom for the private sector, aims to enhance partnerships and opportunities for cooperation with the local private sector.