Saudi Crown Prince: "New City NEOM Will Be a Car-Free 'Carbon Zero' City"

Crown Prince Mohammed bin Salman of Saudi Arabia
[Photo by Reuters]

[Asia Economy Reporter Jeong Hyunjin] Mohammed bin Salman, Crown Prince of Saudi Arabia, announced that the NEOM Smart City project, which is being promoted as part of diversifying the economy heavily dependent on oil, will be developed as a 'carbon zero' city.

According to Bloomberg News on the 10th (local time), Crown Prince bin Salman announced that the new city NEOM Smart City, being developed in the northwest with an investment of $500 billion, will be a city without cars and roads. Bin Salman emphasized, "Why should we sacrifice nature for development? We need to change the conventional concept of cities for future cities."

This project, named 'The Line,' is part of the NEOM Smart City initiative led by bin Salman, with construction scheduled to begin in the first quarter of this year. According to the details he revealed, this city, built within nature, will connect future communities through a belt walkable without cars and roads. It is planned to house 1 million residents and create 380,000 jobs by 2030, and bin Salman stated that the infrastructure construction costs are expected to range between $100 billion and $200 billion.

The NEOM Smart City project has faced skepticism and political debates since its announcement. Analysts have questioned whether this project can be realized and whether the necessary investment funds can be secured. In response, bin Salman explained, "The investment funds for The Line will come from $500 billion to be supported over the next 10 years by the Saudi government, the Public Investment Fund (PIF) of Saudi Arabia, and global and regional investors."

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