Neom - Arabian Gulf Business Insight

Neom City Overview

Neom City is a major development project located in the northwest of Saudi Arabia. It is part of the kingdom’s giga-projects and comprises several subsidiary initiatives, including The Line, Trojena, Sindalah, Zardun, Aquellum, and Epicon.

Investment Strategy and Development

Saudi Arabia’s Public Investment Fund (PIF) is nearing approval of a revised investment strategy for Neom, according to governor Yasir Al Rumayyan. This plan aligns with the fund's broader focus on six key development areas.

Expansion Plans by Red Sea Global

Luxury resort developer Red Sea Global (RSG) intends to grow beyond Saudi Arabia. CEO John Pagano told Reuters that their first overseas project will concentrate on tourism and hospitality in Italy. Pagano also announced he will join the board of the Neom mega-project.

Saudi Arabia’s Public Investment Fund governor Yasir Al Rumayyan: "The plan is part of the fund’s wider shift to concentrate on six major development areas."
John Pagano, CEO of Red Sea Global: "We plan to expand beyond Saudi Arabia, starting with a tourism and hospitality project in Italy."

Subsidiary Projects of Neom

Author’s summary: Neom is a strategic giga-project in Saudi Arabia undergoing investment refinement, with subsidiary developments and international expansion plans led by key figures like Yasir Al Rumayyan and John Pagano.

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

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