In a further show of progress and stability, NEOM has hosted representatives from 52 global, regional and local financial institutions in the developing region. While in NEOM, guests witnessed ongoing progress across key projects such as THE LINE, OXAGON, TROJENA, and Sindalah, the luxury island destination set to open soon.

NEOM today announced it has secured a new revolving credit facility (RCF) worth SAR 10 billion. It represents another milestone for NEOM as it progresses with the development of major projects and will be used to support NEOM’s short-term financing requirements.  The RCF, which follows a Murabaha structure, reflects a continuation of NEOM’s strategy to diversify its sources of funding.

Saudi Arabia plans to open the first region of its NEOM megacity by the end of the year. The island of Sindalah will provide the first physical glimpse into the ambitious desert project, which has reportedly been scaled back from its initial plans due to financial struggles. Developers say they want the island to be an "exclusive gateway to the stunning Red Sea," adding that they planned to cater to luxury clientele and the global yachting community.

NEOM City is shifting gears from words and videos to actions and tangible proof. The latest revelation came on X (Twitter), where images showed the progress made by Spanish companies on THE LINE’s high-speed railway called ‘The Spine.’ According to the post shared on social media, the firms have completed 25% of the work on one of the tunnels in The Spine, which is a cool 8.7 km long. This space will be utilized by high-speed trains, transport vehicles, and freight trains, serving as the link between THE LINE and an industrial port called OXAGON.

King Abdullah University of Science and Technology (KAUST), in partnership with NEOM, has launched the first nursery of the KAUST Coral Restoration Initiative (KCRI).  According to a recent press release, KCRI represents the world's largest coral restoration project and is already operational with a second facility underway, both situated in the Red Sea.  This initiative, funded by KAUST — a top-tier graduate research university acclaimed as the number one Arab University by Times Higher Education — features a cutting-edge nursery on the coast of NEOM in northwest Saudi Arabia.

Marriott International has signed a deal with NEOM to introduce its second Ritz-Carlton Reserve in Saudi Arabi at the TROJENA development. Positioned as a hub for mountain tourism, TROJENA is part of Saudi Arabia’s US$500 billion NEOM project. The Ritz-Carlton Reserve brand includes select destinations located in natural landscapes to promote immersive experiences.

THE LINE’s railway route called The Spine is a marvel that, when ready, will run the length of 170 km covering a large expanse from the Red Sea coast inland towards Tabuk. Fascinatingly, the vast distance of THE LINE (170 km), has been claimed by the makers of NEOM City to be covered in only 20 minutes from end-to-end.

The event was organized in partnership with the Belt and Road Office under the Commerce and Economic Development Bureau of the government of the Hong Kong Special Administrative Region.  The roadshow for NEOM traveled from Beijing to Shanghai to Hong Kong, where potential investors flocked to a chic museum to peruse eye-popping renderings in various stages of development.  A series of presentations by the NEOM leadership team led the event agenda, showcasing the progress and milestones of NEOM to date, as well as the partnership and investment opportunities available to the audience, according to an official press release.