PRESSR: NEOM welcomes global banking leaders to witness ongoing progress firsthand

• Nadhmi Al-Nasr, CEO, emphasized the importance of cross-industry partnerships in realizing NEOM’s grand vision, inviting guests to discuss opportiunites for collaboration

NEOM, Saudi Arabia — NEOM, the sustainable development taking shape in northwest Saudi Arabia, hosted representatives from 52 global, regional and local financial institutions in the developing region. While in NEOM, guests witnessed ongoing progress across key projects such as THE LINE, Oxagon, Trojena, and Sindalah, the luxury island destination set to open soon.

Financial institutions’ delegates gained a firsthand look at the entire NEOM project and its investment opportunities and participated in focus sessions with the NEOM leadership team to explore strategic partnerships. The event provided a platform to present NEOM’s commitment to sustainable growth and development, emphasizing its focus on Environmental, Social, and Governance (ESG) principles. A key part of the program was a site visit to THE LINE, where dignitaries observed construction of phase one progressing apace and gained an in-depth understanding of the project's visionary design.

Nadhmi Al-Nasr, CEO, NEOM, said: "NEOM is a bold and ambitious project being delivered in Saudi Arabia, for the world. Since inception, we have been establishing strong partnerships to help drive this grand vision forward. NEOM's vast scale and expertise offer strong and ongoing commercial opportunities for global organizations, including financial institutions. We were pleased to host guests from some of the world’s leading financial institutions in NEOM recently to discuss collaborative avenues. NEOM is open for business and we welcome all interested parties to be part of our continued success.”

The event drew representatives from 24 international banks and financial institutions, including those from Germany, Spain, France, England, the United States, China, Japan, and South Korea; 13 regional banks from Qatar, Kuwait, and the UAE; and 15 financial institutions from Saudi Arabia.

Last year, NEOM orchestrated the largest public-private partnership for accommodation[1] amounting to a total value of more than SAR 21 billion, and also announced with DSV a SAR 37.5 billion joint venture to provide logistics services for NEOM. News of these, and other NEOM partnerships, were received positively by guests at Discover NEOM China, which took place in Beijing, Shanghai and Hong Kong earlier this month, with more than 500 senior business and industry leaders in attendance.

About NEOM

NEOM is an accelerator of human progress and a vision of what a new future might look like. It is a region in northwest Saudi Arabia on the Red Sea being built from the ground up as a living laboratory – a place where entrepreneurship will chart the course for this new future. It will be a destination and a home for people who dream big and want to be part of building a new model for exceptional livability, creating thriving businesses and reinventing environmental conservation.

NEOM will include hyperconnected, cognitive cities, ports and enterprise zones, research centers, sports and entertainment venues and tourist destinations. As a hub for innovation, entrepreneurs, business leaders and companies will come to research, incubate, and commercialize new technologies and enterprises in groundbreaking ways. Residents of NEOM will embody an international ethos and embrace a culture of exploration, risk-taking and diversity.

For further information email media@NEOM.com or visit www.NEOM.com and www.NEOM.com/en-us/newsroom.

This material is distributed by Teneo Strategy LLC on behalf of NEOM Company. Additional information is available at the Department of Justice, Washington, DC.

[1] Source: Ijglobal.com. 2022. Transaction Data | IJGlobal - Infrastructure Journal and Project Finance Magazine

© Press Release 2024

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