NEOM has launched the construction work at the first phase of its labor residential area, Construction Village, on Wednesday, Sept. 18, 2019, Saudi Press Agency (SPA) reported.
It will accommodate for 30,000 workers who will move to the city within the upcoming period to start building up the different project’s areas.
The project’s CEO has offered companies some facilities to establish their industrial plant in NEOM according to their work requirements.
Those compounds will be operated by Saudi Arabian Trading & Construction Co. (SATCO) and Al Tamimi Group for ten years. The contracts are the first investment opportunities granted by NEOM.
On Sept. 8, Saudi Arabia's $500 billion megacity, NEOM, awarded contracts to SATCO and Al Tamimi to finance, build, and operate its Construction Village.
The village has additional area that allows adding more compounds in the future according to the project’s needs.
In October 2018, Crown Prince Mohammad bin Salman announced the launch of NEOM that will be set up on a total area of 26,500 square meters in northwest Saudi Arabia.
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