- Saudi Arabia said it is building an octagonal floating city called Oxagon in the Red Sea.
- This is the latest large-scale project announced by MBS as part of Neom’s future regional vision.
- The state-backed Neom company did not specify how much or how the cost of Oxagon will fluctuate.
- For more stories, please visit www.BusinessInsider.co.za.
Saudi Arabia announced the latest Ambitious project, An octagonal city floating on the Red Sea.
According to the press release, Oxagon is sitting on the edge Neon lights, A newly built area located in the northwestern part of the kingdom, the area will be 33 times the size of New York City. The core of Neom It is a smart city of the same name under construction.
Neom posted a compelling but ambiguous Oxagon promotional video on Twitter on Tuesday, stating that Oxagon will become the world’s largest floating structure and “become the location of the world’s first fully automated port and integrated logistics center.” .
Neom did not say how much the Oxagon project will cost or how the city will sustain its livelihood.
The Red Sea is one of the busiest trade routes in the world, 10% of total global trade Pass every year.
Neom is the brainchild of Saudi Crown Prince Mohammed bin Salman (Mohammed bin Salman), and His 13-year plan to modernize the conservative kingdom, Is called “Vision 2030”.
Neom is funded by the Kingdom’s Public Investment Fund (PIF). Crown Prince Mohammed is the chairman of Neom and PIF.
In a statement Carried by the state-run Saudi Press Agency On Tuesday, Crown Prince Mohammed stated: “Oxcom will become a catalyst for economic growth and diversification in Neom and the Kingdom, further realizing our ambitions under the 2030 vision.”
“This will help Saudi Arabia’s regional trade and commerce and support the creation of a new focus for global trade flows. I am very happy to see this.”
Oxagon’s announcement follows other ambitious projects in Saudi Arabia, including:
- “String” A proposed zero-carbon city passes through the Neom area and is planned to be built along a 168-kilometer line that terminates in the Red Sea.
- “Rig” A theme park built on an abandoned oil rig In the Arabian Gulf.
- “Prince Mohammed bin Salman Non-profit City” is a planned urban area in the capital of Riyadh that will accommodate non-profit companies and sustainable businesses.
Some of the projects of Crown Prince Mohammed are Delayed during the pandemic, But Neom’s work is still in progress. A former American diplomat previously told Insider that the crown prince’s political success was “to a large extent related” to the success of such projects.
