Egypt commits 1,000 sq km to Saudi mega-city
Public and private investment in the NEOM project, which spans across Saudi Arabia, Egypt and Jordan, is expected to eventually total US$500b
Add BT as a preferred source
Riyadh
EGYPT has committed more than 1,000 square kilometres of land in the southern Sinai Peninsula to a planned mega-city and business zone unveiled by Saudi Arabia last October, a Saudi official said on Monday.
The territory along the Red Sea is part of a joint fund worth more than US$10 billion and announced by the two countries late on Sunday during a visit to Cairo by Saudi Crown Prince Mohammed bin Salman.
TRENDING NOW
Ohmyhome Ltd sells real estate business for token US$1 due to poor business and continued losses
Buyer for England striker Harry Kane’s former mansion must pay £3.4 million after abandoning deal
Malaysian tycoon Vincent Tan’s sell-downs point to pruning rather than an exit plan
The Asian playbook for global brands no longer works
