Neom - Arabian Gulf Business Insight

Neom City is a major development project in the northwest of Saudi Arabia, incorporating several ambitious giga-projects such as The Line, Trojena, Sindalah, Zardun, Aquellum, and Epicon. The initiative represents one of the key components of Saudi Arabia’s long-term vision for economic diversification and sustainability.

Saudi Arabia’s Public Investment Fund (PIF) is currently finalizing a revised investment strategy for the Neom project. Governor Yasir Al Rumayyan stated that this new plan aligns with PIF’s updated focus on six primary development sectors, aiming to optimize funding and strategic impact.

“Saudi Arabia’s Public Investment Fund is in the final stages of approving a revised investment strategy for the Neom giga-project,” said Yasir Al Rumayyan.

Earlier reports indicated that PIF had implemented spending adjustments across some initiatives to streamline resource allocation as part of its broader transformation plan.

Meanwhile, Red Sea Global (RSG), a luxury resort and tourism developer, is planning its first international expansion. The company’s CEO, John Pagano, shared in an interview with Reuters that the upcoming project will be based in Italy and will focus on tourism and hospitality.

“RSG plans to expand beyond Saudi Arabia, with its first project abroad centered on Italy’s tourism and hospitality sector,” said John Pagano. He also confirmed that he will be joining the board of the Neom project.

Key Projects within Neom

The Line
Trojena
Sindalah
Zardun
Aquellum
Epicon

Author’s Summary

Neom represents Saudi Arabia’s transformative push for futuristic urban development, backed by PIF’s evolving investment approach and expanding global cooperation through Red Sea Global.

Arabian Gulf Business Insight | AGBI — 2025-11-02