Connect with us

Hi, what are you looking for?

Business and Tech

Saudi prince unveils mirrored skyscraper eco-city – AFR


A futuristic Saudi megacity is set to feature two skyscrapers sprawled across a swath of desert and mountainous terrain, according to the kingdom’s de facto ruler’s latest revelations about the project.

The parallel structures of mirror-clad skyscrapers stretching 170 kilometers (more than 100 miles), collectively known as The Line, form the heart of the Red Sea megacity NEOM, a plank of Crown Prince Mohammed bin Salman’s bid, the Gulf state’s oil to diversify -dependent economy.

First announced in 2017, NEOM has consistently raised eyebrows at proposed flourishes like flying taxis and robot girls, even as architects and economists have questioned its feasibility.

In a presentation Monday night, Prince Mohammed outlined an even more ambitious vision, describing a car-free utopia that would become “by far” the most livable city on the planet.

However, analysts noted that plans for NEOM have changed over the years, raising doubts as to whether The Line will ever become a reality.

NEOM, a biotech and digital hub spanning 26,500 square kilometers (10,000 square miles), was once touted as the region’s “Silicon Valley.”

Now it’s a vehicle to reinvent urban life in a footprint of just 34 square kilometers and address what Prince Mohammed calls “quality of life and environmental crises”.

“The concept has changed so much since its early conception that it’s sometimes difficult to pinpoint its direction: shrinking, expanding, or aggressive sideways movement,” said Robert Mogielnicki of the Arab Gulf States Institute in Washington.

– population boom –

Officials had previously said NEOM’s population would surpass one million, but Prince Mohammed said the number would actually reach 1.2 million by 2030, before rising to nine million by 2045.

The staggering total is part of a hoped-for nationwide population boom that Prince Mohammed said would be necessary to transform Saudi Arabia, the world’s largest crude oil exporter, into an economic powerhouse.

The goal for 2030 is to have 50 million people – half Saudis and half foreigners – living in the kingdom, up from about 34 million today.

The goal is 100 million people by 2040, he said.

“That is the main purpose of building NEOM, to increase Saudi Arabia’s capacity to attract more citizens and more people to Saudi Arabia. And since we’re doing it from scratch, why would we copy normal cities?”

The site is powered by 100 percent renewable energy and features “a year-round temperate microclimate with natural ventilation,” according to a promotional video released Monday.

Previous environmental pledges by the kingdom, such as a pledge to achieve net-zero carbon emissions by 2060, have sparked skepticism from environmentalists.

NEOM is well positioned to take advantage of solar and wind power, and there are also plans for the city to house the world’s largest green hydrogen plant, said Torbjorn Soltvedt of risk information firm Verisk Maplecroft.

“But the feasibility of NEOM as a whole is still unclear given the unprecedented scale and cost of the project,” he said.

– find funds –

At just 200 meters (yards) wide, The Line aims to be Saudi Arabia’s answer to uncontrolled and wasteful urban sprawl, by layering homes, schools and parks in what planners are calling “zero gravity urbanism.”

Residents will be able to get “all their daily needs” within a five-minute walk while also having access to other perks like outdoor skiing facilities and “a high-speed rail with end-to-end transit in 20 minutes,” according to a statement.

Although NEOM will operate under its own founding law, which is still being drafted, Saudi officials say they have no plans to end the kingdom’s alcohol ban.

An airport is already operational at NEOM, and authorities announced in May that it would start regular flights from Dubai, but it’s unclear if construction on the megacity itself has started.

The “first phase” of the project, which will last until 2030, will cost 1.2 trillion Saudi riyals (about $319 billion), Prince Mohammed said.

In addition to government subsidies, possible sources of funding include the private sector and an expected IPO for NEOM in 2024, he said.

Securing the necessary funding remains a potential challenge despite the current climate being more benign than during the coronavirus pandemic, which drove oil prices down.

“But funding is only part of the equation … demand is harder to buy, especially when you’re asking people to be part of an experiment in living and working in the future,” Mogielnicki said.

#Saudi #prince #unveils #mirrored #skyscraper #ecocity

You May Also Like

Business

State would join dozens of others in enacting legislation based on federal government’s landmark whistleblower statute, the False Claims Act

press release

With a deep understanding of the latest tech, Erbo helps businesses flourish in a digital world.

press release

#Automotive #Carbon #Canister #Market #Projected #Hit #USD New York, US, Oct. 24, 2022 (GLOBE NEWSWIRE) —  According to a comprehensive research report by Market...

press release

Barrington Research Analyst James C.Goss reiterated an Outperform rating on shares of IMAX Corp IMAX with a Price target of $20. As theaters...