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It will cover 10,230 square miles, and cost Saudi Arabia's Public Investment Fund at least $500 billion — plus millions in foreign investment if it can get it.
In 2017, Neom hired three of the world's largest consultancy firms — McKinsey & Co, Boston Consulting, and Oliver Wyman — to advise. Here's what they came up with.
Neom is supposed to draw on "cloud seeding" technology to make artificial clouds which will produce more rainfall than naturally possible in the desert.
Construction work has already started on Neom Bay, phase one of the mega-city.
Neom Bay is due to become a residential area with "white beaches, a mild climate and an attractive investment environment," the Saudi Press Agency said.
Its completion date has been set for some time in 2020.
Neom used a photo of Singapore's Gardens by the Bay in their marketing materials, suggesting they'll likely draw inspiration from the South Asian city.
The Saudi government is already hosting events at the site of Neom to generate investment and media attention.
The future of the project is in flux, however. After the murder of Saudi-US journalist Jamal Khashoggi, the Saudi crown prince, Mohammed bin Salman, reportedly said: “No one will invest for years."