Saudi Arabia, rapidly progressing towards its Vision 2030 goal for a sustainable economy beyond oil, has invited participation from various countries including the United States, United Kingdom, India, and China in its joint projects.
Turkey has also expressed its interest in participating and requested a share. However, following the journalist Jamal Khashoggi’s murder in 2018, the relations were strained, and Turkey was unable to benefit from the shared projects enjoyed by the rest of the world.
During the Turkey-Saudi Arabia Business Forum, Minister of Trade Ömer Bolat stated, mentioning the project by name, “Our construction companies, which have proven their quality through speed, service, high performance, and international projects, desire to participate in many projects, including NEOM, Diriyah Gate, Qiddiya, Amalla, and the Red Sea, which are part of Saudi Arabia’s Vision 2030 Projects, and they are ready for cooperation and partnership.”
Abide Gülel, an energy and investment expert and businesswoman who has worked with Saudi Arabian companies for many years, provided information about NEOM, Diriyah Gate, Qiddiya, Amalla, and the Red Sea projects mentioned by Minister of Trade Ömer Bolat within Vision 2030:
NEOM: A $500 billion City
“NEOM, which is one of the projects Turkey seeks a share in, is a massive city being constructed on the northwest coast of Saudi Arabia, along the Red Sea, with an estimated cost of $500 billion. It will be a smart city utilizing clean energy, designed to accommodate nine million people and is expected to be completed by 2025. NEOM is projected to generate over $100 billion in revenue through investments and tourism opportunities before 2030.”