PIF Governor says construction of NEOM already started, groundbreaking of ‘The Line’ this year

Yasir Al-Rumayyan, Governor, Public Investment Fund

Saudi Arabia has already begun the construction of the mega-city project, NEOM, Yasir Al-Rumayyan, Governor of the Public Investment Fund (PIF), said at the Future Investment Initiative’s (FII) series “Health Is Wealth”.

“We announced that the groundbreaking of ‘The Line’ will begin this year,” Al- Rumayyan added.

He also indicated that Saudi Arabia is one of the most efficient countries when it comes to sustainability and renewable energy.

“We are committed to sustainability not only for environmental purposes but also to improve the well-being of humans,” Al-Rumayyan noted.

Future partnerships will have sustainable goals and work in accordance with initiatives such as the Saudi Green Initiative, he stated.

In October 2017, Saudi Arabia’s Crown Prince Mohammed bin Salman announced a new economic zone project at a total investment of $500 billion. The new investment city, NEOM, will be set up on a total area of 26,500 square meters in northwest Saudi Arabia, Argaam reported.

In January 2021, the Crown Prince unveiled “THE LINE” project within NEOM, a city of million residents, spanning across 170 kilometers, that preserves 95% of nature within the mega project.