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Saudi's mega-city Neom will have rules of its own. Here are 11 key highlights

News Network
October 27, 2017

Riyadh, Oct 27: Saudi Arabia's Crown Prince Mohammad bin Salman recently announced an ambitious $500 billion independent economic zone, which would also offer a lifestyle that is currently non-existent.

The new zone will come up in the form of a city named Neom.

Earlier, the crown prince had sought global support to transform the kingdom of Saudi Arabia into an open society, where investors from all corners can put in their money.

Here are 11 key highlights of the about NEOM:

- NEOM will be the first capitalist city in the world.

- The mega-city will be floated on financial markets alongside oil giant Saudi Aramco as part of the kingdom's drive to diversify away from oil.

- The name mixed "neo", meaning new, with M, the first letter of the Arabic word stands for future.

- The new city will not follow the rules and regulations enforced in the rest of Saudi Arabia, which imposes sharia law based on a strict Wahhabi interpretation of Islam.

- NEOM is part of the crown prince's ambitious Vision 2030 plan to overhaul the economy of Saudi Arabia.

- The futuristic high tech hub will create more jobs, encourage entrepreneurs and permit new freedoms in a religion-dominated Saudi.

- It will be adjacent to the Red Sea and the Gulf of Aqaba and near maritime trade routes that use the Suez Canal

- It is set to serve as a gateway to the proposed King Salman Bridge, which will link Egypt and Saudi Arabia.

- The new city will not follow the rules as used in the rest of the Saudi and will offer residents a more liberal lifestyle. It will allow musical concerts and entertainment in a remote corner of the desert kingdom.

- It will be spread across 26,500 square km (10,230-square mile) zone extending into Jordan and Egypt.

- Fully owned by Saudi Arabia's sovereign Public Investment Fund (PIF), the venture is expected to be listed in the markets after 2030.

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News Network
April 16,2020

Dubai, Apr 16: Saudi Arabia reported 518 new cases of coronavirus, bringing the total number of infections in the country to 6380, the Ministry of Health announced on Thursday.

According to the ministry of health, the number of recoveries today were 59, making total of recoveries in the kingdom 990, with 71 critical cases in intensive care.

The ministry also confirmed 4 deaths, bringing the total number of deaths in the kingdom to 83.

Saudi Arabia imposed a 24-hour curfew and lockdown on the cities of Riyadh, Tabuk, Dammam, Dhahran and Hofuf and throughout the governorates of Jeddah, Taif, Qatif and Khobar. This week the curfew was extended until further notice by king Salman

Overall, Saudi Arabia has reported one of the lowest rates of infections in the region, with around 6000 cases in a population of over 30 million.

Private sector support

Saudi Arabia has allocated SR50 billion (Dhs49 billion)to support the private sector as part of its package of initiatives approved by King Salman on Wednesday aimed at mitigating economic repercussions from the coronavirus disease (COVID-19).

The package targets small and medium-sized enterprises (SMEs) and economic activities that have been most affected by the pandemic.

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News Network
April 24,2020

Dubai, Apr 24: The UAE reported 525 new COVID-19 cases on Friday. The Ministry of Health and Prevention said the total number of confirmed cases in the UAE is now 9,281.

MOHAP reported 8 deaths taking the total number of deaths in the country to 64. 123 recoveries have also been announced.

According to the Ministry of Health and Prevention, the latest cases were detected through its intensified investigation and examination procedures.

The ministry conducted over 32,000 additional COVID-19 tests among citizens and residents.

The ministry offered its sincere condolences to the families of the deceased. It also wished a speedy recovery to all patients and called upon the general public to strictly adhere to preventative measures out of concern for the health and safety of all.

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News Network
April 25,2020

Riyadh, Apr 25: Saudi Arabia announced nine deaths and 1,197 new cases of the COVID-19 virus on Saturday.

Of these cases, 120 were recorded in Madinah, 364 in Makkah, 271 in Jeddah, 170 in Riyadh and 43 in Dammam.

The number of people who had recovered from the coronavirus in the Kingdom increased to 2,214 after 165 patients were reported to have recovered.

A total of 136 people have died of the disease in the Kingdom so far.

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