Saudi Gazette report

NEW YORK — NEOM, the ambitious sustainable development project in northwest Saudi Arabia, has marked a significant expansion in its global outreach by inaugurating its first office in the United States, located in New York City.

The office, situated at 50 Hudson Yards in Manhattan, represents NEOM's growing international presence, following the opening of its London office in November 2023.

The opening ceremony, graced by the presence of Saudi Arabia’s Ambassador to the United States Princess Reema Bandar, was hosted by Nadhmi Al-Nasr, CEO of NEOM.

The event highlighted NEOM's commitment to fostering strong partnerships and exploring new investment avenues in the US.

The New York office is poised to enhance NEOM’s collaborations with US. companies, fostering innovation and supporting NEOM’s mission to redefine the standards of livability, business, and environmental conservation.

This strategic move aims to deepen ties with leading US. industries, corporations, and investors, accelerating NEOM's contributions to global sustainability and economic diversification.

Ambassador Princess Reema emphasized the broader impact of NEOM, stating, “The opening of NEOM’s office in New York symbolizes the project’s global influence and its role in pioneering sustainable development and economic diversification, inspiring future urban innovations worldwide.”

Al-Nasr, reflecting on the choice of New York for NEOM’s second international office, remarked, “New York City, a global nexus for business and finance, is the ideal location for NEOM to enhance its partnerships and investment strategies within the US, furthering our vision and ambitious goals.”

Bob Stefanowski, appointed as Managing Director of the NEOM USA Office, brings extensive global financial expertise to the role, with former leadership positions at General Electric, UBS, and 3i Group plc.

A testament to NEOM’s existing US collaborations is the NEOM Green Hydrogen Company (NGHC) venture, a groundbreaking project to construct the world’s largest green hydrogen plant in NEOM, with a total investment of $8.4 billion.

This partnership, involving US-based Air Products, ACWA Power, and NEOM, underscores the vast potential for future US-Saudi collaborations in sustainable technologies.

The establishment of the New York office is a strategic step for NEOM, enhancing its capacity to drive innovation and sustainable development on a global scale by leveraging American expertise and resources.