Saudi Arabia’s public investment fund to invest in a city without cars

NEOM, part of Saudi Arabia’s public investment fund, will start construction of 'The Line' that is a 170km belt of hyper-connected future communities, without cars and roads and built around nature, in Q1 of 2021.

NEOM, one of the largest sovereign wealth funds in the world expects the project will create 380,000 jobs and contribute $48bn to GDP by 2030. These ultra-high-speed transit and autonomous mobility solutions will make travel easier and give residents the opportunity to reclaim time to spend on health and wellbeing. It is expected no journey will be longer than 20 minutes where all essential daily services, such as schools, medical clinics, leisure facilities, as well as green spaces, could be spanned at a 5 minute walk.

“Throughout history, cities were built to protect their citizens. After the Industrial Revolution, cities prioritized machines, cars and factories over people. In cities that are viewed as the world’s most advanced, people spend years of their lives commuting. By 2050, commute durations will double. By 2050, one billion people will have to relocate due to rising CO2 emissions and sea levels,” exclaimed Mohammed bin Salman, Crown Prince and NEOM’s Chairman.

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