"Neom" Attracts $5.6 Billion Investment for Worker Housing

The Saudi company "Neom" announced today, Tuesday, that it has "attracted investments worth 21 billion riyals, or $5.6 billion," in the form of financing and the signing of final contracts to develop the first phase of its residential community expansion to accommodate workers in the project. It added: "The second phase of the temporary housing communities project is expected to be auctioned in the coming months." Neom reported, "The agreement includes the creation of 10 housing complexes that will accommodate 95,000 residents from various Neom projects by the end of the first phase." It continued: "Temporary accommodation spaces, necessary during the construction period, can be reused once they are no longer needed, as they are built sustainably as standard units that can be repurposed for other tasks."