Saudi Arabia weighs funding options for $500bln Neom

Lazard is evaluating some financing options for the project

Staff Writer, Arab Finance

November 11, 2022

PHOTO

Saudi Arabia is working with the US-based financial advisor and asset manager Lazard to consider ways to pay for the kingdom’s $500 billion Neom project, Arabian Business reported on November 9th, citing sources.

Lazard is evaluating some financing options for the project, including debt sales or an initial public offering (IPO) on the Saudi Stock Exchange (Tadawul).

NEOM is a technology mega-city project planned to be situated on 26,500 kilometers.

The first phase of the project is set to end in 2030 and will cost $319 billion.

Saudi Arabia has set aside a SAR 300 billion investment related to the project, along with plans to offer NEOM in an IPO in 2024.

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

ZAWYA NEWSLETTERS

RELATED ARTICLES

ZAWYA NEWSLETTERS

LATEST VIDEO