Holac Posted November 1, 2017 NEOM is the world’s first independent special zone stretching over three countries. It is set to become a new vibrant destination located in the north-western region of Saudi Arabia. Expected to emerge as a leading global hub that exemplifies the future of human civilization by offering its inhabitants an idyllic lifestyle combined with exceptional economic prospects. NEOM seeks to attract top talent from around the world to push the boundaries of innovation like never before and drive the growth of this zone and its residents. OPPORTUNITY-RICH DEVELOPMENTAL AREA This special zone is located in the north-western region of Saudi Arabia and is set to include territory from within the Egyptian and Jordanian borders, to comprise a total area of 26,500 km2. NEOM will provide a plethora of unique development opportunities, as the project’s strategic coastal Red Sea location is notable for its: The unique geographical location of NEOM ensures a temperate climate, roughly about 10°C cooler – on average – than its surrounding areas and the rest of the GCC. Cradled in a mountainous region that is home to the breathtakingly diverse terrain in the North of Saudi Arabia, the area earmarked for the development also enjoys cooler winds coming in from the Red Sea for the best possible climate for future residents. Quote Share this post Link to post Share on other sites
Holac Posted November 1, 2017 Saudi Crown Prince: Talking to Amazon, Alibaba over NEOM Crown Prince Mohammed bin Salman said Saudi Arabia is in talks with some of the world’s biggest companies to develop technologies that will power life in the $500 billion city he’s planning to build on the Red Sea, according to Bloomberg. The city is due to open for business by 2025, with limited operations expected as early as 2020, Prince Mohammed told Bloomberg News in an interview in Riyadh on Wednesday. Amazon.com Inc., Alibaba Group Holding Ltd and Airbus SE are already involved in discussions, he said. Quote Share this post Link to post Share on other sites
Holac Posted November 3, 2017 In October 2017, five of the richest men in the world sat next to each other in Saudi Arabia’s capital Riyadh and with childlike excitement talked abouttheir new shared dream: building Neom. They were on stage at the first edition of the Future Investment Initiative, an event that gathered international business leaders to explore new economic opportunities for a country that hopes to be no longer dependent on oil revenues as it fulfills its “Vision 2030” program. Panelists discussing the future of Neom, from left to right: the Crown Prince Mohammed bin Salman; Masayoshi Son, chairman and CEO of the SoftBank Group Corp. of Japan; Stephen A. Schwartzman, chairman and co-founder of the Blackstone Group; Marc Raibert, CEO of Boston Dynamics; Klaus Kleinfeld, former chairman and CEO of Arconic Alcoa Inc., and Siemens AG. Neom is to be the grandest manifestation of that vision. A city of the future, the likes of which the world has never seen—except maybe in science fiction books and movies. It is to be built from scratch on 10,231 square miles of untouched land in the northwestern region of Saudi Arabia, including territory from within the Egyptian and Jordanian borders. It will be an independent zone, with its own regulations and social norms, created specifically to be in service of economic progress and the well-being of its citizens, in the hopes of attracting the world’s top talent and making Neom a hub of trade, innovation and creativity. Neom's location offers a terrain with mountains, deserts, 285 miles of coastline and coral reefs, as well as a moderate climate, with temperatures on average 10 degrees Celsius lower than the rest of Saudi Arabia / Credit: discoverneom.com While the scope of ambition for this urban project may be unprecedented for this century, its necessity is evident. With falling oil prices and declining demand, as well as insufficient investment opportunities at home, Saudi Arabia is searching for its place in the future. It hopes to utilize another abundant natural resource: the sun. As Masayoshi Son, chairman and CEO of the SoftBank Group Corp. of Japan, said during the panel: “Only 3% of the land of Saudi Arabia can provide over 50% of the electricity of the world, with today’s solar technology.” Neom will not only become a test case for a zero-energy mega-city (with a size 33 times that of New York), but it will provide abundant opportunities for employment and investments within Saudi Arabia, attracting local and foreign money back to the country. The city’s vision is to be at the forefront of nine key economic sectors, including energy and water, biotech, advanced manufacturing, and food. The goal for Neom is to not only be able to provide for all of its energy needs via solar and wind power, but to also be an exporter / discoverneom.com Addressing a question about the political and social stability of the region, Prince Mohammed bin Salman said: “We were not like this in the past. We only want to go back to what we were — the moderate Islam that is open to the world, open to all the religions. [...] 70% of the Saudi people are less than 30 years old, and quite frankly we will not waste 30 years of our lives in dealing with extremist ideas.” $500 billion has already been committed to the construction of Neom, with its first phase expected to be completed in 2025. The city will be owned by the Saudi Arabian Public Investment Fund, overseen by a special authority, chaired by Prince Mohammed bin Salman. Excluding sovereign laws (pertaining to the military sector, foreign policy and sovereign decision), Neom will have its own governmental framework, including different taxation, customs and labor laws. Neom has a strategic coastal Red Sea location close to international markets and trade routes. Approximately 10% of the world’s trade flows through the Red Sea and 70% of the world’s population can reach it in under eight hours flight. / discoverneom.com Marc Reibert of Boston Dynamics emphasized that the success of the project will depend on attracting the right talent ("dreamers" are welcome) and creating the right culture of innovation that will allow for building this technological city of the future, where all services and processes will be entirely automated, food will be grown in the desert, drones will fly in the skies, and there will be a full-scale e-government. At this initial stage it is unclear what Neom will look like, but we may get a taster thanks to another “future city” project to be built in Canada albeit on a much smaller scale. Credit: sidewalktoronto.ca Sidewalk Labs, owned by Alphabet has committed $50 million to develop 12 acres in the Quayside area of Toronto in a public-private partnership with the city. The plan is to build a mini digital city, using a range of smart technologies, sustainable energy and autonomous cars, that will eventually become the home of Google’s Canadian headquarters. Of course, redeveloping an area within a city and building a city from scratch are two entirely different endeavors, especially when the ambition for the latter is to “be the most exciting, fulfilling place to live and work on the planet. A tribute to humanity’s timeless ambition, the herald of a new era and a new standard for centuries to come.” History can provide us with its fair share of examples where humanity’s vision of would-be utopian cities did not manifest itself the way it was intended. Hopefully, given the fact that both Neom and Sidewalk Toronto are intended to be commercial projects, things will pan out differently. Here's WIRED founder Kevin Kelly on utopia versus protopia: Quote Share this post Link to post Share on other sites
Mooge Posted November 4, 2017 niyoow keep an eye for big jobs there for somalis. Quote Share this post Link to post Share on other sites
Holac Posted November 6, 2017 Shares of Kingdom Holding, Prince Alwaleed's investment vehicle, sank for a second day after the chairman was targeted in an anti-corruption sweep. The billionaire was one of 11 princes arrested by a new anti-corruption body headed by the Saudi Crown Prince. Prince Alwaleed holds shares in Citigroup, Twitter and Apple. Saudi princes among dozens detained in 'corruption' purge Mohammed bin Salman, power behind the throne "From a sentiment perspective, this will hurt the businesses associated with the prince," said Nabil Rantisi, the managing director of brokerage at Menacorp, a United Arab Emirates investment firm. "Major investors may shy away from these companies for a while until they have more clarity on the outcome of the situation". Analysts are speculating that 32-year-old Mohammed bin Salman, heir apparent to the Saudi throne, is consolidating power and asserting his control over the oil-rich kingdom. The sizes of Prince Alwaleed's holdings in Twitter and Apple have not been disclosed by Kingdom Holding as he has been secretive about his international investments over the years. Among the prince's other global holdings is Citigroup, in which he has owned shares since 1991, mass media corporation Twenty-First Century Fox and ride-sharing firm Lyft. The prince also owns the majority of Rotana Group, the Arab world's largest entertainment company, and London's Savoy hotel. Over the weekend, security forces arrested dozens of former top officials and ministers within hours after King Salman bin Abdulaziz Al Saud's decision to crack down on corruption. Prince Alwaleed's whereabouts are currently unknown. Some of the detainees are being held at five-star hotels across Riyadh, the Associated Press reported, citing a Saudi official. Saudi Arabia's finance ministry has said "firm decisions" by the anti-corruption committee will "help to reinforce the investment environment in the kingdom". 'Aftershocks' Shares in Al Tayyar Travel Group, a Riyadh-based travel company, also tumbled after non-executive board member Nasser bin Aqeel al-Tayyar was arrested in the sweep. Investors are "extremely concerned by the weekend's events and we'll see further falls on Kingdom Holding in particular as it's very hard to define what the company is without Prince Alwaleed," said Marcus Chenevix, a Middle East analyst at TS Lombard. "The government is evidently struggling to find political equilibrium. This was a drastic move and it's hard to see that there won't be aftershocks following the earthquake." Kingdom Holding has not responded to emails seeking comment on Prince Alwaleed's detention. The stock has lost more than 11% in the past two days, and is currently trading at its lowest level since 2011. "No one knows how long this is all going to take and no one knows if the prince is going to come out of it the way he entered," Menacorp's Mr Rantisi said. Any investor reaction to the arrests may be premature, however, as "in the medium to long run, if the Saudis are able to link corruption to whoever was detained and if they sort the mess out, the move will ultimately create more transparency and could attract more foreign investment to the kingdom than ever before", he added. The price of oil reached a two-year high after the crackdown. Saudi Arabia is the world's biggest exporter of crude oil and the second-largest producer of the commodity. Brent crude oil hit $62.90 a barrel on Monday, the highest level for 28 months. Earlier this month, Forbes said Prince Alwaleed had an estimated net worth of about $17bn (£13bn), making him the 45th richest man in the world. Quote Share this post Link to post Share on other sites
Holac Posted November 6, 2017 There is a tribal war going on in Saudi as the young Prince consolidates power to get rid of his uncle's kids and other relatives he deems danger to his throne. Arrested Billionaire. Quote Share this post Link to post Share on other sites
