Saudi Arabia plans to build a 500 billion dollar mega city. Looking for a new vacation destination? How about Saudi Arabia. No, seriously, the Saudi Arabian government says it plan to build a five billion dollar mega city that stretches into Jordan and Egypt and is completely powered by renewable energy. The project is called NEOM (Saudi Arabia Today) and will measure ten thousand two hundred and thirty square miles, which is 33 times larger than New York City.
One of the main goals of neom will be to diversify Saudi Arabia's economy in an attempt to move it beyond oil. The mega City will focus on industries such as energy and water, biotechnology, food, advanced manufacturing and entertainment.
The five hundred billion dollars will come from the Saudi government. It's often will fund and local and international investors.