NEOM targets hydrogen exports to Europe, Saudi NEOM City Attracts $500B Business Influx

Saudi Arabia’s ambitious NEOM megacity project, central to Vision 2030, continues to magnetize global investors with its zero-carbon blueprint spanning 26,500 km² along the Red Sea. Phase 1 construction accelerates toward a 2026 soft launch, featuring The Line—a 170km linear smart city housing 9 million residents without cars or emissions. Aramco commits $10 billion for green hydrogen plants, while SoftBank’s $100 billion Vision Fund anchors tech hubs, drawing firms like Oracle and Airbus.​

Projected to generate $500 billion in contracts by 2030, NEOM targets hydrogen exports to Europe, forecasting $50 billion annual revenue and positioning Saudi as a top exporter. Luxury tourism zones, including Sindalah island resort operational since 2025, rival Dubai’s Palm Jumeirah with AI-driven experiences and biotech spas. Over 1 million jobs emerge in construction, renewables, and AI, with 200,000 Saudis trained via NEOM Academy.

Challenges include water scarcity, addressed by the world’s largest desalination plant producing 2 million cubic meters daily using nuclear-powered tech. The UAE counters with Masdar City’s expansions in Abu Dhabi, fostering GCC rivalry that boosts regional FDI by 25%. Qatar and Bahrain invest in satellite projects, like Lusail’s smart districts. NEOM’s governance blends blockchain for transparent procurement and metaverse planning tools. This transformative venture not only diversifies Saudi’s oil economy but redefines Arab business as a nexus for sustainable innovation and global trade.