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Saudi Arabia weighs funding options for $500B Neom

Saudi Arabia weighs funding options for $500B Neom

Arab Finance: Saudi Arabia is working with the US-based financial advisor and asset manager Lazard to consider ways to pay for the kingdom’s $500 billion Neom project, Arabian Business reported on November 9th, citing sources.

Lazard is evaluating some financing options for the project, including debt sales or an initial public offering (IPO) on the Saudi Stock Exchange (Tadawul).

NEOM is a technology mega-city project planned to be situated on 26,500 kilometers.

The first phase of the project is set to end in 2030 and will cost $319 billion.

Saudi Arabia has set aside a SAR 300 billion investment related to the project, along with plans to offer NEOM in an IPO in 2024.

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