Saudi Giga-Project NEOM Welcomes Global Financial Institutions
In a groundbreaking event, Saudi giga-project NEOM opened its doors to 52 global, regional, and local financial institutions, showcasing the progress of key projects and highlighting lucrative investment opportunities.
Commitment to Sustainable Growth
The meeting delved into the latest developments of NEOM’s flagship initiatives, including The Line, Oxagon, Trojena, and Sindalah, all set to debut later this year. The event underscored NEOM’s unwavering commitment to sustainable growth and development, emphasizing its adherence to environmental, social, and governance principles.
Exploring The Line
Dignitaries were given an exclusive tour of The Line, witnessing the rapid advancements in phase one construction and gaining valuable insights into the project’s innovative design.
NEOM CEO’s Vision
NEOM CEO Nadhmi Al-Nasr expressed his excitement about the partnerships driving NEOM’s grand vision forward, offering lucrative commercial opportunities for global organizations, including financial institutions. He welcomed guests from leading financial institutions worldwide, encouraging collaboration and participation in NEOM’s ongoing success.
Global Representation
Representatives from 24 international banks and financial institutions, spanning from Germany, Spain, France, the UK, the US, China, Japan, South Korea, Qatar, Kuwait, the UAE, and Saudi Arabia, attended the event, showcasing the global interest in NEOM’s potential.
Major Partnerships and Investments
NEOM’s recent partnerships, including a $5.67 billion public-private partnership for accommodation and a $37.5 billion joint venture with Denmark’s DSV for logistics services, garnered positive reception at Discover NEOM China. The event attracted over 500 senior business leaders, highlighting NEOM’s growing influence.
Strategic Credit Facility
NEOM announced a groundbreaking SR10 billion credit facility, structured on Murabaha principles, to support the developmental stages of key projects like The Line, Oxagon, Trojena, and Sindalah. Al-Nasr emphasized the alignment of these credit facilities with Saudi Arabia’s Vision 2030 goals, showcasing the collaborative efforts of leading Saudi financial institutions in realizing NEOM’s ambitious vision.