Everything we know about Neom, Saudi Arabia’s great architectural showpiece, sounded like a fantasy.
Flying elevators, zero-carbon zones and swimming as a mode of commuting – none of these have been seen before on the scale envisioned by Crown Prince Mohammed bin Salman, known informally as MBS.
Now the futuristic city is trying to lure executives into spearheading growing industries like tourism and technology with annual salaries of up to $1.1 million, the Wall Street Journal reported Tuesday based on an internal Neom document. And that number could get a lot higher when bonuses and other incentives are factored in.
Neom is the latest in MBS’ efforts to diversify the economy of Saudi Arabia, the world’s largest oil exporter. In recent years, the Kingdom has facilitated women’s ability to travel and drive cars independently, to correct oppressive practices and allow more freedom in its society. To project an image of making foreigners more welcome, Neom will also serve alcohol at one of its resorts, the Wall Street Journal reported, marking a milestone for the Islamic kingdom where alcohol is banned.
Saudi Arabia also hopes to attract new talent since there are no income taxes, meaning executives can keep their entire million-dollar salaries. The project says it has already hired a number of experts from around the world in the water, environment and more departments.
Neom – which is expected to be the size of Belgium when complete – offers a variety of job opportunities for project managers, including marine biologists, drainage engineers and more. Some reels are devoted to The Line, an ambitious 1,600-foot structure that will house 9 million residents and that the country says will have many elements of nature like a vertical garden city.
MBS announced Neom back in 2017 with a total budget of $500 billion. The first phase of the project will cost $319 billion, half of which will be provided by the sovereign wealth fund, Portal reported.
The story goes on
This story was originally featured on Fortune.com
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