NEOM (Saudi Arabia)
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RIYADH, Feb 9 (Reuters) - Saudi Arabia's $925 billion Public Investment Fund (PIF) plans to announce a new five-year strategy this week, two people with direct knowledge of the matter said, in the biggest reset yet of Crown Prince Mohammed bin Salman's economic transformation plan.

The new blueprint will emphasize sectors including industry, minerals, artificial intelligence and tourism, while scaling back and in some cases reconfiguring expensive mega projects such as The Line a futuristic mirrored city, the sources said.

Under the new strategy, NEOM will shift away from its earlier emphasis on tourism and futuristic urban design toward renewable energy and industrial development, including green hydrogen, solar and wind projects, and data centres that benefit from their proximity to the sea for cooling, the people said.

Source: https://www.reuters.com/world/middle-east/saudi-pif-unveil-new-20262030-strategy-this-week-sources-say-2026-02-09/

Saudi Arabia is considering a radical restructuring of its flagship giga-project Neom, people familiar with the matter have told AGBI.

Under one of various options being considered by senior policymakers in the kingdom, control of major assets would be transferred to other state-backed entities, according to sources speaking on condition of anonymity.

The proposal would, if approved, place oversight of Oxagon, Neom’s port and floating industrial zone, under national oil company Saudi Aramco, according to people familiar with the matter, though no final decision has been taken.

Trojena, the planned mountain ski resort, would be overseen by the Ministry of Sport and Qiddiya Investment Co.

Sindalah, the island resort and yachting centre, would be taken over by real estate development company Red Sea Global, which is behind the luxury Red Sea and Amaala projects.

Source: https://www.agbi.com/giga-projects/2026/01/neom-restructure-part-of-saudis-vision-2030-shake-up/

Source: https://buy.meed.com/product/saudi-arabia-giga-projects/

Design proposal of the coastal road of Magna, where there are rest stops and a pedestrian road running parallel with. A modern design that seems to blend with nature.

Source: https://x.com/Saudfromabove/status/1963198098483638540

Saudi Arabia’s NEOM is considering significantly cutting its workforce and relocating more than 1,000 employees to Riyadh as the kingdom tries to control costs and improve oversight of the vast new city and other developments being built on its northwestern coast, according to people familiar with the matter.

The relocations, which may start later this year, would reverse NEOM’s former Chief Executive Nadhmi Al-Nasr’s policy that staff be based on the barren construction site, the three people said. Employees who will be moved to the capital are expected to lose benefits including housing and meals that were provided at NEOM due to the site’s remote location, the people said, resulting in a de facto pay cut.

More than 1,000 staff may also be laid off in the restructuring, according to the people. No final decisions on the overhaul have been made and the plans could still change, the people said.

Source:
https://www.linkedin.com/in/matthew-martin-5519a222/

Red Sea Bridge Between Egypt and Saudi Arabia Moves Ahead with $4 Billion Plan

First announced in 2016 during King Salman bin Abdulaziz Al Saud’s visit to Egypt, the Red Sea bridge project aims to physically and economically connect the continents of Asia and Africa. Crown Prince Mohammed bin Salman has reiterated his central role in Saudi Arabia’s Vision 2030, describing it as a strategic asset to bolster intercontinental trade, tourism, and religious pilgrimage routes.

If realized, the structure would establish the first direct land crossing between Saudi Arabia and Egypt, linking two major regions of the Arab world. In Saudi Arabia, the bridge will connect to the planned NEOM economic zone, while on the Egyptian side, it will feed into expanding infrastructure tied to the New Administrative Capital, located 45 kilometers east of Cairo.

The current proposal includes not only a bridge or a tunnel but also a high-speed railway line to transport cargo and passengers across the Strait of Tiran. This design element underlines the project’s ambition to modernize regional logistics and enhance connectivity across the Red Sea.

According to reports, the total project cost is estimated at $4 billion, to be funded predominantly by Saudi Arabia. The bridge is also expected to integrate with broader logistics networks along the Red Sea corridor, which has become a focal point for both nations’ development plans.

Source: https://parametric-architecture.com/red-sea-bridge-egypt-and-saudi-arabia/?srsltid=AfmBOooR1lM6roFckRAEkj6uYELWh1aUc1sx03qs0_q02WxY7vKQy-WC

Here are a couple of pics of the small, operational NEOM Bay Airport by the sea (not to be confused with the massive NEOM Intl. Airport posted earlier).

Here is the location of the new NEOM International Airport at the end of THE LINE. Not to be confused with the small operational NEOM Bay Airport.