Saudi Gazette report

RIYADH — The Saudi Program for Social Development in the Regions (Tanmiah) completed on Thursday the field listing of real estate properties located within the first stage of Neom project, which started last February, Saudi Press Agency (SPA) said Friday.

This phase is effected prior to evaluating the real estate properties and paying just compensations, in preparation for handover of the properties by the owners.

“Tanmiah” program will follow up the beneficiaries during and after their relocation to make sure that there is improvement in their standard of living by providing them a number of additional economic and social packages.

The Neom Project is deemed the most ambitious project in the world. It is being developed on an area of 26,500 sq. km in the northwestern part of Saudi Arabia.

It is located on one of the most important economic routes in the world, along the Red Sea and Gulf of Aqaba, forming a confluence point between the Arab region, Asia, Africa and Europe.

The project will be one of the pillars of economic transformation of the Kingdom by diversifying the sources of income via Neom’s economic and real estate investment sectors.