Saudi Arabia offers more than only Neom City; its ambitious Crown Prince Mohammed Bin Salman intends to build the nation as a whole, not just the Kingdom.
As he tries to build multibillion dollar enterprises and go beyond his present bounds, he has handed Egypt a tremendous opportunity. The plan, according to Luxury Launches, is to purchase Ras Ghamila, a well-liked Red Sea tourist destination.
resolute According to a source who spoke to Middle East Eye, Saudi authorities offered to use the enormous $10.3 billion in central bank accounts held by the kingdom. Egypt supports this approach, which will give Saudis immediate access to foreign currency.
The Egyptian government brought up the $35 billion Emirati Bay el-Hekma contract, which included $11 billion in pre-existing deposits. Ras Ghamila is a roughly 860,000 square meter high-value critical area of pristine land. By utilizing Ras Ghamila’s natural beauty and its proximity to the Tiran and Sanafir Islands, Saudi Arabia intends to enhance tourism between Sharm el-Sheikh and Neom in Saudi Arabia.
Saudi Arabia is quickly becoming the ultimate tourism destination of the future with the construction of the $1.5 trillion Neom City, which will host spectacular projects like the mind-blowing The Line, sumptuous Sindalah Island for sea lovers, and a year-round ski community called Trojena.
The dream projects are progressing so quickly that, despite rising costs, they are not willing to slow down.
