top of page

Neom Project: Saudi Arabia goes to Hong Kong to ask for help from Chinese capital?

In the wave of global urbanization, Saudi Arabia has launched Neom, a futuristic megacity project. To overcome the difficult financial situation, the Saudi government has actively sought diversified financing channels, setting its sights on China. Therefore, they plan to hold a special event in Hong Kong to attract the participation and assistance of Chinese capital

In the wave of global urbanization, Saudi Arabia launched Neom, a futuristic megacity project, with its unique perspective and grand planning.

Photo PIF

This project is not only a key project in Saudi Arabia, but also the centerpiece of global urban construction. However, futuristic giant Neom faces financial challenges and its CEO, Nadmi Nasr, is turning his attention eastward, seeking help from Chinese capital.

The Neom project, a megacity estimated to cost $500 billion, is located on the northwestern coast of Saudi Arabia and has attracted global attention with its cutting-edge futuristic design and large scale. However, recent financial difficulties have called into question this grand plan, forcing some development plans and the scale of investments to be adjusted.

Faced with this problem, Nasr plans to hold a half-day event at the M+ Museum in Hong Kong's West Kowloon cultural district on April 19, 2024, aiming to attract the attention of Chinese investors.

The event, called Discover Neom, will invite Neom's leadership to give speeches, present the project's latest progress and future vision, and showcase its unique urban design concepts through engaging exhibitions.

This roadshow in Hong Kong is not the first stop for the Neom team: the Saudi delegation has already visited mainland China, laying the foundation for the trip to Hong Kong.

According to Chinese experts, this itinerary highlights the importance Saudi Arabia attaches to the Chinese market and looks forward to infusing new vitality into the Neom project through in-depth cooperation with Chinese capital.

Trade between Saudi Arabia and Hong Kong is increasingly dense. Since Hong Kong Chief Executive Johnnie Lee visited Saudi Arabia, the two countries have signed a series of cooperation agreements and held in-depth discussions in areas such as finance and market interconnection.

The Saudi Central Bank also visited the Hong Kong Monetary Authority to explore opportunities for cooperation between the two sides in the financial field.

This event will provide a platform for exchanges and cooperation between China and Saudi Arabia to explore cooperation opportunities in the fields of IT, construction, accounting and law.

It should also be mentioned, that the Saudi government is financing the Neom project through a variety of methods to ensure its smooth progress and the realization of its vision.

With the in-depth participation of Chinese capital, Chinese contractors, subcontractors and raw material suppliers will have more opportunities to develop Neom's business opportunities, continue Beijing experts, according to whom "Cooperation between the two sides will not only foster the progress of the Neom project, but will also give new impetus to economic and trade cooperation between China and Saudi Arabia."

"Through joint efforts and wisdom, we look forward to seeing the Neom project become a truly futuristic city in the future. We also hope that China and Saudi Arabia will achieve mutual benefits and win-win outcomes in more areas, and jointly write a new chapter in the economic and commercial cooperation."

2 visualizzazioni0 commenti


bottom of page