Saudi Arabia has unveiled plans to build a new city and business zone – a project that will be backed up by more than $500bn (£381bn) in investment.
Crown Prince Mohammed bin Salman says the 26,500 sq km (10,232 sq mile) NEOM zone will be developed in the north-west, extending to Egypt and Jordan.
In August, the Gulf kingdom launched a massive tourism development project However, the extremely ambitious nature of Mohammed bin Salman’s vision is sure to raise questions about how realistic it is, the BBC’s economics correspondent Andrew Walker says.
“NEOM’s contribution to the kingdom’s GDP is projected to reach at least $100bn by 2030, in addition to its per capita GDP – projected to become the highest in the world,” a statement said.
“It is set to become a new vibrant destination” on the coast of the Red Sea and the Gulf of Aqaba, linking Asia, Africa and Europe.