If Saudi Arabia's economy is to survive the drop in oil price, it must work on diversifying its industry
6 years, 3 months ago

If Saudi Arabia's economy is to survive the drop in oil price, it must work on diversifying its industry

The Independent  

The best of Voices delivered to your inbox every week - from controversial columns to expert analysis Sign up for our free weekly Voices newsletter for expert opinion and columns Sign up to our free weekly Voices newsletter SIGN UP I would like to be emailed about offers, events and updates from The Independent. As most people know, Saudi Arabia is both the world’s largest oil exporter and has the largest proven reserves. Oil, gas and associated industries generated 42 per cent of the country’s GDP last year, 87 per cent of its tax revenues and some 90 per cent of its export earnings. Saudi Arabia opens high-speed Haramain railway linking Islam's holiest cities Vision 2030 is not a detailed plan, rather a statement of intent. Well, stronger oil prices are a big help, but the country does plan to float off 5 per cent of the shares in Saudi Aramco, the world’s largest oil company, currently owned by the state.

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History of this topic

Saudi Arabia is losing its iron grip on global oil markets
1 month, 1 week ago

Saudi Arabia is losing its iron grip on global oil markets

Live Mint  

Saudi Arabia’s sway over the Organization of the Petroleum Exporting Countries long meant unquestioned dominance of the global oil market. “They won’t be able to bring oil back online next year," said a Saudi official. “It’s really easy to be part of a cartel when a market is growing," said Jorge León, a Rystad Energy analyst who formerly worked for …

Saudi Arabia’s liberalization is visible in its popular culture
1 month, 2 weeks ago

Saudi Arabia’s liberalization is visible in its popular culture

Live Mint  

Saudi Arabia’s unprecedented attempt to diversify from an oil economy to something more sustainable seems to be churning along nicely. As part of Vision 2030, Riyadh aims to lower the Saudi unemployment rate and increase small businesses’ contribution to the economy. In 2023, Norway’s largest pension fund KLP blacklisted some of Saudi’s telecom and real estate companies, citing “human rights …

The big problem for Saudi Arabia’s futuristic city? The country doesn't have enough money
2 months ago

The big problem for Saudi Arabia’s futuristic city? The country doesn't have enough money

Live Mint  

The giant futuristic planned city of Neom is proving a headache for Saudi Arabia. Despite its reputation for deep pockets, Saudi Arabia can’t afford the laundry list of glitzy megaprojects and economic initiatives tied to Vision 2030, Crown Prince Mohammed bin Salman’s plan to pivot the economy away from oil. The crown prince announced Vision 2030 in 2016 as a …

How Saudi Arabia’s $1.5 trillion Neom megacity has had another major setback
2 months ago

How Saudi Arabia’s $1.5 trillion Neom megacity has had another major setback

Firstpost  

Saudi Arabia’s Neom, a $1.5 trillion mega-city project aimed at transforming the Kingdom’s economy, has run into a new challenge. This is among the many roadblocks the project has experienced, including scaled-back timelines and complaints of harsh working conditions Neom, launched in 2017 by Saudi Crown Prince Mohammed bin Salman, is envisioned as an ultra-modern city that spans 26,500 square …

Saudi Arabia Embraces Sustainable Growth at 8th Future Investment Initiative
2 months, 2 weeks ago

Saudi Arabia Embraces Sustainable Growth at 8th Future Investment Initiative

China Daily  

Saudi Arabia calls for a shift towards sustainable growth during the 8th Future Investment Initiative. The country's chairman, Yasir Al-Rumayyan, emphasizes the importance of investing in a future that benefits both economies and societies. The conference focuses on global investments aimed at addressing major issues, including artificial intelligence, robotics, education, energy, space and sustainability.

Saudi Arabia transitioning to green circular carbon economy：FII
2 months, 2 weeks ago

Saudi Arabia transitioning to green circular carbon economy：FII

China Daily  

Minister of Energy of Saudi Arabia Prince Abdulaziz bin Salman Al Saud delivers a speech at the 8th Future Investment Initiative in Riyadh, Saudi capital, on Oct 29. SCREEN GRAB / CHINA DAILY Saudi Arabia is undergoing a significant transition in the energy sector towards a cleaner economy, as highlighted by participants at the 8th Future Investment Initiative held from …

Saudi Arabia's Economic Growth to Soar in 2025 as Oil Taps Open
2 months, 3 weeks ago

Saudi Arabia's Economic Growth to Soar in 2025 as Oil Taps Open

The Hindu  

Saudi Arabian economic growth is expected to accelerate next year thanks to higher oil output after two years of modest performance. The country's crude oil output is expected to increase in December, boosting revenues for the six GCC countries. The growth rate in non-oil GDP is projected to be largely in line with oil GDP, with the oil sector playing …

Saudi Arabia: A Step Towards Gender Equality, But Much Work Remains
2 months, 3 weeks ago

Saudi Arabia: A Step Towards Gender Equality, But Much Work Remains

India Today  

Saudi Arabia has introduced over 50 new reforms to boost women's rights, as part of its Vision 2030 plan. These reforms include changes to travel documents and civil status systems, updates to the social insurance system, and far reaching improvements in education, health care, and protection. The country has also seen considerable reforms in its legal system with changes to …

China, Saudi Arabia fortify pillar of relations by expanding investment, trade
4 months ago

China, Saudi Arabia fortify pillar of relations by expanding investment, trade

China Daily  

RIYADH - Chinese Premier Li Qiang's visit to Saudi Arabia, which concluded on Wednesday, has underscored the role of investment and trade as a key pillar of the China-Saudi Arabia relationship. Following the meetings, Saudi Arabia's Minister of Investment Khalid Al-Falih told Xinhua that China and Saudi Arabia have bright prospects for investment cooperation, noting that around 750 Chinese joint …

Saudi Arabia eyes China in maritime tourism push
4 months ago

Saudi Arabia eyes China in maritime tourism push

China Daily  

Enjoying coffee the Saudi way. Since July 1, Chinese tourists have enjoyed easier travel to Saudi Arabia. Alshaghrood welcomed the first wave of 175 Chinese language teachers that arrived in Saudi Arabia last week as an "important step" in bringing both cultures "closer together" as the Arab nation gradually opens to more visitors. "I think today the kingdom represents one …

Saudi Arabia eyes tie-ups with China in R&D, innovation
4 months, 1 week ago

Saudi Arabia eyes tie-ups with China in R&D, innovation

China Daily  

Saudi Arabia is eyeing greater collaboration in research and development, as well as innovation with Asia as it looks to China for technology and automotive advancement in its mining sector transformation push, according to a senior government official. Saudi Arabia's Minister of Industry and Mineral Resources Bandar bin Ibrahim AlKhorayef, told China Daily in an interview in Hong Kong on …

Can Saudi Arabia become a premier tourist hotspot?
4 months, 1 week ago

Can Saudi Arabia become a premier tourist hotspot?

Live Mint  

Recent events in Saudi Arabia have not been a good advert for tourism. The people who do travel to Saudi Arabia tend to have some kind of connection to the country: in 2022 only 2.5m visited for pure leisure purposes rather than for business or religion or to see family and friends. Such ancient sites give Saudi Arabia an advantage …

Saudi Arabia's Aramco reports lower half-year profits as economic worries dampen energy prices
5 months, 1 week ago

Saudi Arabia's Aramco reports lower half-year profits as economic worries dampen energy prices

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Saudi oil giant Aramco reported …

Saudi Arabia eyes tourism transformation
8 months, 1 week ago

Saudi Arabia eyes tourism transformation

China Daily  

Historic Jeddah had a symbolic role as a gate to Makkah for Muslim pilgrims reaching Saudi Arabia by boat in old times, according to UNESCO, and continues to attract visitors from all walks of life for its ancient charm and entertainment. After welcoming a record 100 million tourists last year, thus surpassing its goals for Vision 2030, a grand economic …

Saudi Arabia eyes tourism transformation
8 months, 1 week ago

Saudi Arabia eyes tourism transformation

China Daily  

Historic Jeddah had a symbolic role as a gate to Makkah for Muslim pilgrims reaching Saudi Arabia by boat in old times, according to UNESCO, and continues to attract visitors from all walks of life for its ancient charm and entertainment. After welcoming a record 100 million tourists last year, thus surpassing its goals for Vision 2030, a grand economic …

Saudi Arabia eyes tourism transformation
8 months, 1 week ago

Saudi Arabia eyes tourism transformation

China Daily  

Historic Jeddah had a symbolic role as a gate to Makkah for Muslim pilgrims reaching Saudi Arabia by boat in old times, according to UNESCO, and continues to attract visitors from all walks of life for its ancient charm and entertainment. After welcoming a record 100 million tourists last year, thus surpassing its goals for Vision 2030, a grand economic …

Saudi Arabia eyes tourism transformation
8 months, 1 week ago

Saudi Arabia eyes tourism transformation

China Daily  

The Soudah Peaks will be transformed into a mega luxury mountain tourism destination. CHINA DAILY Mountainous region In September last year, Saudi Arabia's Crown Prince and Prime Minister Mohammed bin Salman Al Saud, who is also chairman of Soudah Development, unveiled a master plan that would transform the mountainous region of Soudah and parts of Rijal Almaa into Soudah Peaks. …

Saudi Arabia eyes tourism transformation
8 months, 1 week ago

Saudi Arabia eyes tourism transformation

China Daily  

Foreign visitors take pictures in the Saed desert area, about 110 kilometers east of the capital city Riyadh. "Saudi Arabia tourism has huge potential, which is even larger than what digital economy or finance can bring to it," said Jerry Li, founder and managing partner of eWTP Arabia Capital. Pan Xin, a tourist guide in the Middle East from Hong …

Saudi Arabia eyes tourism transformation
8 months, 1 week ago

Saudi Arabia eyes tourism transformation

China Daily  

The Soudah Peaks will be transformed into a mega luxury mountain tourism destination. CHINA DAILY Mountainous region In September last year, Saudi Arabia's Crown Prince and Prime Minister Mohammed bin Salman Al Saud, who is also chairman of Soudah Development, unveiled a master plan that would transform the mountainous region of Soudah and parts of Rijal Almaa into Soudah Peaks. …

Saudi Arabia eyes tourism transformation
8 months, 1 week ago

Saudi Arabia eyes tourism transformation

China Daily  

Foreign visitors take pictures in the Saed desert area, about 110 kilometers east of the capital city Riyadh. "Saudi Arabia tourism has huge potential, which is even larger than what digital economy or finance can bring to it," said Jerry Li, founder and managing partner of eWTP Arabia Capital. Pan Xin, a tourist guide in the Middle East from Hong …

Saudi Arabia Needs Oil Price Near $100, IMF Says
8 months, 4 weeks ago

Saudi Arabia Needs Oil Price Near $100, IMF Says

Hindustan Times  

Saudi Arabia will need a higher oil price than previously thought this year as the OPEC leader spearheads the group’s production cuts, according to the International Monetary Fund. Saudi Arabia Needs Oil Price Near $100, IMF Says Riyadh will require an average oil price of $96.20 a barrel to balance its budget, assuming it holds crude output steady near 9.3 …

Eye on the Middle East | Saudi-Pakistan joint statement on Kashmir shows Riyadh’s balancing act
9 months ago

Eye on the Middle East | Saudi-Pakistan joint statement on Kashmir shows Riyadh’s balancing act

Hindustan Times  

On April 8, a Saudi Arabia-Pakistan joint statement caught media attention in India for its reference to the Kashmir dispute. Released during Pakistan premier Shehbaz Sharif’s official visit to the kingdom, the statement called for “dialogue between Pakistan and India to resolve outstanding issues…especially the Jammu and Kashmir dispute…” The language seemingly echoes India’s post-1972 position that the dispute shall …

Saudi Arabia seeks $80 billion investments. Aim? More tourists
10 months, 1 week ago

Saudi Arabia seeks $80 billion investments. Aim? More tourists

Hindustan Times  

Saudi Arabia is seeking to attract as much as $80 billion in private investment into the tourism industry as the kingdom looks to share the financial burden of plans to become one of the world’s most visited destinations. “I want the private sector to represent the majority of investment,” Tourism Minister Ahmed Al Khateeb said in an interview in Riyadh …

Saudi Arabia likely to extend additional oil supply cuts beyond December 2023
1 year, 1 month ago

Saudi Arabia likely to extend additional oil supply cuts beyond December 2023

Live Mint  

World's top exporter Saudi Arabia is expected to extend its additional voluntary supply cuts to at least the first quarter, if not the first half of 2024, Amrita Sen, co-founder of consultancy Energy Aspects said on Wednesday. Current oil prices are not low enough to push the Organization of the Petroleum Exporting Countries and their allies, known as OPEC, to …

China and Saudi Arabia moving closer to share economic benefits
1 year, 2 months ago

China and Saudi Arabia moving closer to share economic benefits

China Daily  

Trade and economic cooperation between China and Saudi Arabia will see strong growth momentum in the years ahead, driven by the alignment of economic interests and concerted efforts to enhance synergy between the Belt and Road Initiative and Saudi Vision 2030, said analysts and company executives. While the core of China-Saudi Arabia business relations has historically revolved around the oil …

Saudi Arabia is trying to disrupt soccer’s world order. The reasons why might surprise you
1 year, 3 months ago

Saudi Arabia is trying to disrupt soccer’s world order. The reasons why might surprise you

CNN  

CNN — Editor’s Note: A version of this story appears in CNN’s Meanwhile in the Middle East newsletter, a three-times-a-week look inside the region’s biggest stories. Saudi Crown Prince Mohammed bin Salman says he doesn’t “care” about the country’s investment in sport being described as sportswashing. Patricia de Melo Moreira/AFP/Getty Images By attracting some of the world’s biggest stars to …

Mint Explainer: India-Saudi Arabia deals - A bull-run in the making?
1 year, 4 months ago

Mint Explainer: India-Saudi Arabia deals - A bull-run in the making?

Live Mint  

As India fortifies its economic links with the Middle East, particularly through newly inked Memoranda of Understanding with Saudi Arabia, shares of several Indian-listed companies are experiencing a positive nudge. Companies like Essar are already capitalizing on these agreements by expanding their steel operations in Saudi Arabia, particularly in areas requiring technology to reduce carbon emissions. A closer look at …

DC Edit | Good Saudi ties to help India
1 year, 4 months ago

DC Edit | Good Saudi ties to help India

Deccan Chronicle  

The Crown Prince who is its Prime Minister as well the prime mover of modernisation of the Kingdom of Saudi Arabia was not letting out a secret when he said that there had been no disagreement in the history of India-Saudi Arabia relations. The strong historical ties received a healthy boost with Mohamed bin Salman, staying back after the G-20 …

Killing Them Softly: Saudi Arabia, China teaming up for AI is a major headache for US' monopoly
1 year, 4 months ago

Killing Them Softly: Saudi Arabia, China teaming up for AI is a major headache for US' monopoly

Firstpost  

Saudi Arabia and China’s relationship in terms of tech is becoming worrisome for US. While the US is trying to restrict the export of AI chips to China, and now West Asia, Saudi Arabia and China have found the perfect partner in each other to develop AI and AI hardware While the US may have a monopoly over AI as …

Saudi Arabia, India, U.S. and EU launch economic corridor to increase trade
1 year, 4 months ago

Saudi Arabia, India, U.S. and EU launch economic corridor to increase trade

The Hindu  

India and Saudi Arabia have joined the European Union and the United States in launching the Partnership for Global Infrastructure and Investment and India-Middle East-Europe Economic Corridor. I would like to thank those who worked with us to reach this founding step to establish this important economic corridor,” said Crown Prince Bin Salman in his brief remark at the event …

For Saudi Arabia, sport is the new oil
1 year, 4 months ago

For Saudi Arabia, sport is the new oil

The Hindu  

Published : Sep 07, 2023 11:00 IST - 11 MINS READ Saudi Arabia, the world’s second largest oil producer, has gone into overdrive in recent years in its efforts to become a global player in international sports. Most of these investments have been made through Saudi Arabia’s $776 billion Public Investment Fund, considered to be one of the largest sovereign …

Oil Prices Surge as Saudi Arabia and Russia Extend Global Production Cut
1 year, 4 months ago

Oil Prices Surge as Saudi Arabia and Russia Extend Global Production Cut

News 18  

Saudi Arabia and Russia agreed Tuesday to extend their voluntary oil production cuts through the end of this year, trimming 1.3 million barrels of crude out of the global market and boosting energy prices. Bob McNally, the founder and president of the Washington-based Rapidan Energy Group and a former White House energy adviser, said Saudi Arabia and Russia had “demonstrated …

Oil prices spike as Saudi Arabia, Russia extend 1.3 million barrel a day oil cut through December
1 year, 4 months ago

Oil prices spike as Saudi Arabia, Russia extend 1.3 million barrel a day oil cut through December

Associated Press  

DUBAI, United Arab Emirates — Saudi Arabia and Russia agreed Tuesday to extend their voluntary oil production cuts through the end of this year, trimming 1.3 million barrels of crude out of the global market and boosting energy prices. Bob McNally, the founder and president of the Washington-based Rapidan Energy Group and a former White House energy adviser, said Saudi …

Saudi Arabia eyes aviation expansion to get in on crucial tourism market
1 year, 5 months ago

Saudi Arabia eyes aviation expansion to get in on crucial tourism market

Al Jazeera  

Making up for lost time, the kingdom is moving to challenge regional players, attract travellers and boost its income. “The government is highly committed to the sector’s development – and it knows that with Saudi Arabia’s incredible and diverse landscapes, tourism could be big,” Phillips told Al Jazeera. But Saudi Arabia’s plans to build over King Khalid International, which has …

The World Cup, golf, F1, cycling and more. Saudi Arabia is buying sport – this is why
1 year, 6 months ago

The World Cup, golf, F1, cycling and more. Saudi Arabia is buying sport – this is why

New York Times  

Editor’s note: This is an updated version of an article that was first published in July 2023. “Saudi Arabia’s interest in esports is driven by several factors, one of which is climate — for several months, it is simply too hot to play sports or stage events outdoors,” continues Chadwick. “PIF’s investment in sports not watched or played inside Saudi …

Can Saudi Arabia's billion-dollar bet on tourism succeed?
1 year, 6 months ago

Can Saudi Arabia's billion-dollar bet on tourism succeed?

Hindustan Times  

Earlier this month, Saudi Arabia signed a multimillion-dollar deal with Habitas, the American company that got its start setting up luxury camping at the annual Burning Man festival in the US desert. "It's extremely exciting to observe what's happening there because, up until recently, Saudi Arabia had been something of a blank spot on the tourist map," Markus Pillmayer, a …

Saudi Arabia, China’s tourists and Sino-Saudi relations
1 year, 7 months ago

Saudi Arabia, China’s tourists and Sino-Saudi relations

Al Jazeera  

Saudi Arabia and China’s strengthening relationship is increasingly important to both Riyadh and Beijing as the kingdom pushes ahead with Vision 2030 and China with its Belt and Road Initiative. In March, Saudi Tourism Authority CEO Fahd Hamidaddin met with China’s Vice Minister of Culture and Tourism Rao Quan to discuss launching joint tourism initiatives aimed at helping the kingdom …

Saudi Arabia Pushes for Cooperation with China, Disregards Western Suspicions
1 year, 7 months ago

Saudi Arabia Pushes for Cooperation with China, Disregards Western Suspicions

News 18  

Saudi Arabia wants to collaborate, not compete, with China, the kingdom’s energy minister declared on Sunday, saying he “ignored” Western suspicions over their growing ties. OIL DEALS In March, state oil giant Saudi Aramco announced two major deals to raise its multi-billion dollar investment in China and bolster its rank as China’s top provider of crude. They were the biggest …

As Blinken visits, top Saudi diplomat says kingdom seeks US nuclear aid but ‘others’ also bidding
1 year, 7 months ago

As Blinken visits, top Saudi diplomat says kingdom seeks US nuclear aid but ‘others’ also bidding

Associated Press  

DUBAI, United Arab Emirates — Saudi Arabia’s foreign minister said after meeting with the visiting U.S. secretary of state on Thursday that while the kingdom would welcome U.S. aid in building its civilian nuclear program, “there are others that are bidding.” Foreign Minister Prince Faisal bin Farhan was responding to a question about recent news reports that Saudi Arabia is …

Saudi Arabia is slashing oil supply. It could mean higher gas prices for US drivers
1 year, 7 months ago

Saudi Arabia is slashing oil supply. It could mean higher gas prices for US drivers

Associated Press  

FRANKFURT, Germany — Saudi Arabia will reduce how much oil it sends to the global economy, taking a unilateral step to prop up the sagging price of crude after two previous cuts to supply by major producing countries in the OPEC+ alliance failed to push oil higher. The Saudi cut of 1 million barrels per day, to start in July, …

Oil prices surge as Saudi Arabia and other OPEC nations slash production
1 year, 9 months ago

Oil prices surge as Saudi Arabia and other OPEC nations slash production

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Saudi Arabia and other major …

Saudis, other oil giants announce surprise production cuts
1 year, 9 months ago

Saudis, other oil giants announce surprise production cuts

Associated Press  

DUBAI, United Arab Emirates — Saudi Arabia and other major oil producers on Sunday announced surprise cuts totaling up to 1.15 million barrels per day from May until the end of the year, a move that could raise prices worldwide. Even though the production cut is only about 1% of the roughly 100 million barrels of oil the world uses …

Countries that could be impacted by renewed Iran-Saudi ties
1 year, 10 months ago

Countries that could be impacted by renewed Iran-Saudi ties

Associated Press  

DUBAI, United Arab Emirates — A deal between Iran and Saudi Arabia to resume diplomatic ties has wide-reaching effects across the Middle East and beyond, and reduces the chance of armed conflict between regional rivals. Here’s a look at some of the countries that could be affected by the deal, struck this week in China: — YEMEN: Both Saudi Arabia …

Saudi Arabia cuts oil prices for Asia and Europe as demand slows
2 years ago

Saudi Arabia cuts oil prices for Asia and Europe as demand slows

Live Mint  

Saudi Arabia cut oil prices for its main market of Asia and for Europe, signaling that demand remains sluggish as economies slow and coronavirus cases in China surge. State-controlled Saudi Aramco reduced prices for all types of crude that will be shipped to Asia in February. Saudi Arabia sells about 60% of its crude exports to Asia under long-term contracts, …

When China and Saudi Arabia meet, nothing matters more than oil
2 years, 1 month ago

When China and Saudi Arabia meet, nothing matters more than oil

CNN  

Hong Kong CNN — Chinese leader Xi Jinping is visiting Saudi Arabia this week for the first time in nearly seven years, during which he signed a comprehensive strategic partnership with the world’s largest oil exporter and met leaders from across the Middle East. Saudi Arabia is China’s largest trading partner in the Middle East and the top global supplier …

America and Saudi Arabia are locked in a bitter battle over oil. The stakes are massive
2 years, 2 months ago

America and Saudi Arabia are locked in a bitter battle over oil. The stakes are massive

CNN  

New York CNN Business — The relationship between the United States and Saudi Arabia is one of the most important on the planet. After trying and failing to persuade OPEC to ramp up oil production, President Joe Biden reversed his 2020 campaign promise to make Saudi Arabia a “pariah” over its human rights record. US officials thought they reached a …

Saudi Arabia’s triumphant week reclaims the West’s embrace
2 years, 3 months ago

Saudi Arabia’s triumphant week reclaims the West’s embrace

Associated Press  

NEW YORK — Saudi Arabia appears to be leaving behind the stream of negative coverage that the killing of Jamal Khashoggi elicited since 2018. Saudi Arabia’s busy week of triumphs included brokering a prisoner swap between Ukraine and Russia, holding a highbrow summit on the sidelines of the U.N. General Assembly, marking the country’s national day with pomp and pageantry, …

Saudi Arabia's triumphant week reclaims the West's embrace
2 years, 3 months ago

Saudi Arabia's triumphant week reclaims the West's embrace

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Saudi Arabia’s busy week of triumphs included brokering a …

Saudi Arabia is booming with visitors and this time it isn’t only about oil
2 years, 4 months ago

Saudi Arabia is booming with visitors and this time it isn’t only about oil

Hindustan Times  

The more than 300 apartments in Almajdiah Residence’s new Riyadh complex sold in just a month for cash, without the company even having to advertise. Saudi Arabia is booming with visitors and this time it isn’t only about oil This is Saudi Arabia, the world’s biggest exporter of oil, so it’s no surprise the property market is red-hot as income …

Saudi Prince MBS Reveals Futuristic Megacity NEOM. This Is How it Will Look Like
2 years, 5 months ago

Saudi Prince MBS Reveals Futuristic Megacity NEOM. This Is How it Will Look Like

News 18  

A futuristic Saudi megacity is to feature two skyscrapers extending across a swathe of desert and mountain terrain, according to the latest disclosures on the project by the kingdom’s de facto ruler. In a presentation Monday night, Prince Mohammed sketched out an even more ambitious vision, describing a car-free utopia that would become the planet’s most liveable city “by far”. …

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