Saudi Arabia is intensifying efforts to secure funding for its ambitious Neom megacity project, valued at $1.5 trillion. The kingdom plans to raise approximately $1.3 billion through the issuance of Islamic bonds, or sukuk, with its debut riyal bond sale scheduled for later this year. This move comes as Saudi Arabia seeks to diversify its funding sources, amid reports of scaling back some of the project's initial ambitions. In addition to the bond sale, the country is also actively seeking financial support from international bankers, with hundreds of bankers expected to visit Neom this week. Saudi Arabia has also expressed interest in securing investments from Chinese funds. The Neom project, which aims to build a futuristic city in the desert, has been described as a high-risk venture with a focus on tourism, technology, and sustainability.
Saudi Arabia is desperately trying to woo bankers to pay for its futuristic desert city https://t.co/MQm6RkxqpV
For some, Saudi Arabia’s planned city, The Line, is a truly grand ambition to remake a nation; for others, it’s a megalomanic effort seeking to distract from the reality of a brutal autocracy, Jan-Werner Müller writes. https://t.co/kJKgonrrEa
Saudi Arabia is desperately trying to woo bankers to pay for its futuristic desert city https://t.co/JsjjjBCgEt
Hundreds of bankers will descend on Saudi Arabia’s Neom this week, as developers for the futuristic city step up their hunt for new forms of funding https://t.co/Vgb5GiAbFs via @Archanamideast @MattMartin128
Hundreds of bankers will descend on Saudi Arabia’s Neom this week, as developers for the futuristic city step up their hunt for new forms of funding - Bloomberg
Hundreds of bankers will descend on Saudi Arabia’s Neom this week, as developers for the futuristic city step up their hunt for new forms of funding https://t.co/bieMBeQksU
Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited. https://t.co/FueDqFoM66
Splashy Saudi mega-project NEOM chases Chinese funds https://t.co/5D5O2dm3bl
Maybe too much betting? 🇸🇦 - Saudi Arabia's High-Risk $1 Trillion Bet on Tourism - Can Saudi Arabia buy the future? A trillion bet on tech - Saudi Arabia's $2 trillion bet on a sustainable future - Saudi Arabia's $500 billion bet to build a futuristic city in the desert https://t.co/PEYTx5z7Hs
Not if they can sell bonds (which they are) Saudi Arabia’s Neom is planning its debut riyal bond sale for later this year as it looks for more sources of funding for the $1.5 trillion worth of construction projects it’s planned for the futuristic city (BBG) https://t.co/zaw4uCcNvh
Saudi Arabia's $500 billion Neom megacity is reportedly seeking new sources of cash https://t.co/5Ir52OOXJJ
Neom is looking into a plan to raise as much as $1.3 billion from Islamic bonds, or sukuk, as it looks to shore up funding for the $1.5 trillion megacity project https://t.co/wrKdwgnqqI
Saudi Arabia is looking to raise over a billion dollars for the Neom megacity project from the sale of Islamic bonds, following reports that ambitions for the desert project have been scaled back https://t.co/RxEa6GAxjt