The Saudi Crown Prince Has Announced That NEOM Will Raise 500 Billion Riyals In Capital
Category:
BUSINESS
Al Ekhbariya TV reported on Tuesday that Saudi Arabia's Crown Prince Mohammed Bin Salman said the government will raise 500 billion riyals of capital in 2027 and tap the market for 200-300 billion riyals more for NEOM, the country's futuristic city project.
According to the crown prince, NEOM will depend on government support until 2030, then it will become self-sustaining.
In addition, the crown prince said NEOM will increase the value of the Saudi stock market by a trillion riyals.
26 Jul, 2022
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