Saudi doles out construction contracts for Neom palaces
The city is located near the Saudi Arabia's Red Sea coast, close to where the country borders Jordan and Egypt.
JEDDAH, SAUDI ARABIA —Saudi Arabia's awarded the first construction contracts for its Neom mega city project in mid-February.
According to Reuters, Saudi Arabia asked companies to develop five palaces in the massive business zone. NEOM is part of Saudi's aim to diversify its economy away from oil and will reportedly be powered by renewable energy.
According to British newspaper the Independent, the area NEOM is to be built upon is 33 times larger than New York City. The city will also reportedly have its own judicial system, separate from the rest of Saudi Arabia.
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