NEOM: Unveiling the Future of Living in a Smart City Oasis
Neom is the premier commercial and tourist development in Saudi Arabia on the Red Sea coast, and it was first announced by Prince Mohammed in 2017. It is a major undertaking in the 2030 Vision, which outlines the kingdom’s goals for economic diversification.
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Smart cities and towns, ports, business districts, research facilities, sports and entertainment venues, and tourism attractions will all be part of the $500 billion plan.
SMART CITIES MARKET SIZE, 2021 TO 2030 (USD BILLION)
The global smart cities market size was estimated at US$ 1,273.15 billion in 2022 and it is expected to hit around US$ 7,162.5 billion by 2030, growing at a CAGR of 24.1% from 2022 to 2030.
Smart cities
The trend towards digitalisation is transforming our lives and the cities we live in. Technology is being used to make our cities smarter and more sustainable. Smart cities are heavily reliant on data collected by sensors and cameras spread all over the city. The goal of a smart city is to make our lives easier and to know what happens before it happens, using new generations of telecommunication technology and applications such as artificial intelligence or cloud computing.
The progress of smart cities
THE LINE
· The centrepiece of Saudi Crown Prince Mohammed bin Salaman’s strategy to diversify the nation’s economy is Neom.
· At the scenic Red Sea coast of the kingdom, the project will be constructed from the ground up. It is designed to look like a sci-fi blockbuster development.
· The project is slated to create 380,000 jobs and contribute 180 billion riyals ($48 billion) to the kingdom’s gross domestic product (GDP) by 2030.
· The 170 km eco-city, dubbed as ‘The Line’ will be able to accommodate 1 million residents in “carbon-positive urban developments” by 2030.
· The pedestrian city will have services such as schools, health centres and green spaces, as well as high-speed public transportation, with no journey expected to take more than 20 minutes.
· It will be powered by 100 per cent clean energy, providing pollution-free, healthier and more sustainable environments for residents.
· The city would be built around ultra-high speed transit and autonomous mobility solutions. Artificial intelligence will play a key role in the city.
· Saudi’s sovereign wealth fund, the Public Investment Fund (PIF), is the cornerstone investor in Neom.
Smart City Market Segments
Conclusion
THE LINE will tackle the challenges facing humanity in urban life today and will shine a light on alternative ways to live. We cannot ignore the livability and environmental crises facing our world’s cities, and NEOM is at the forefront of delivering new and imaginative solutions to address these issues. NEOM is leading a team of the brightest minds in architecture, engineering and construction to make the idea of building upwards a reality.
Author: Bobby Singh