NEOM ‘a long-term project’, completion extends beyond 2030: Deputy CEO

Rayan Fayez, Deputy CEO of NEOM

Rayan Fayez, Deputy CEO of NEOM, stated that significant and ongoing investments in the project infrastructure are currently underway, emphasizing that NEOM is a long-term project meant to span generations, and was never targeted for completion by 2030.

Speaking during a panel session at the Future Investment Initiative (FII) conference in Riyadh, Fayez said that it is essential to continuously reassess the feasibility of the projects being implemented, adding that budgets are regularly reviewed and that the focus should remain on initiatives that have proven economically viable.

He also noted the importance of considering regional developments when evaluating the scale of NEOM.

According to Fayez, NEOM spans more than 26,000 square kilometers and aims to redefine the concept of sustainable cities, highlighting that some infrastructure projects have reached up to 80% completion.

The Deputy CEO also stressed that NEOM aims to attract around 9 million residents, with the current focus on completing key infrastructure facilities, including an airport that will serve the entire region. “The defining feature of these projects is investing in infrastructure to ensure readiness before welcoming residents and tourists,” he added.