NEOM reveals Magna, its new coastal region

NEOM, Saudi Arabia, June 5, 2024 /CNW/ -- The Board of Directors of NEOM has today revealed the development of Magna, its luxury lifestyle coastal destination. Part of NEOM's regional sustainable tourism portfolio, Magna is situated on the stunning Gulf of Aqaba coastline and comprises the recently announced premier destinations of Leyja, Epicon, Siranna, Utamo, Norlana, Aquellum, Zardun, Xaynor, Elanan, Gidori, Treyam and Jaumur.

The twelve destinations will span 120 kilometers and are poised to set a new global standard in luxury sustainable tourism. As the physical embodiment of the ambitious and future-focused Saudi Vision 2030, Magna will be developed with a core focus on cutting-edge technology, world-class architecture, and ultra-modern amenities that effortlessly merge with nature.

Each destination is individually unique, with its own distinct offering for residents and guests, yet seamlessly blends to form a unified destination. They will be woven together by the conservation, preservation, and rejuvenation of native flora, fauna, and the breathtaking natural landscape. The development will comprise 15 luxury hotels, 1,600 hotel rooms, suites and apartments, and over 2,500 premium residences across its destinations.

Nadhmi Al-Nasr, Chief Executive Officer, NEOM, said: "NEOM's premier coastal region of Magna is a treasure of tomorrow, steeped in natural beauty and advanced technology. Aligned with our three pillars of redefining business, conservation, and livability, Magna will play a key role in building a strong tourism ecosystem within NEOM. Importantly, Magna will contribute positively to the national economic diversification efforts and to the broader Saudi Vision 2030 goals, helping to position the Kingdom as a global leader in luxury tourism."

In line with the transformative Saudi Vision 2030, Magna and its destinations will stimulate the Kingdom's economy by creating 15,000 jobs across the tourism, leisure, and hospitality sectors. The development is projected to contribute SAR2.6 billion to the Kingdom's GDP by 2030, accommodate 14,500 residents, and welcome more than 300,000 overnight visitors annually. Magna presents an unprecedented opportunity for investors and developers to be part of one of the world's most pioneering projects, with sustainability embedded in every stage from design to construction, and long-term maintenance.

Magna is NEOM's newest region within the evolving giga-project development in the northwest of Saudi Arabia, following Sindalah, THE LINE, Trojena, and Oxagon.

Press Kit: https://fileshare.neom.com/s/4kn7Qiys5BzaL2n
Password: NEOMMagna123

About NEOM

NEOM is an accelerator of human progress and a vision of what a New Future might look like. It is a region in northwest Saudi Arabia on the Red Sea being built from the ground up as a living laboratory ? a place where entrepreneurship will chart the course for this New Future. It will be a destination and a home for people who dream big and want to be part of building a new model for exceptional livability, creating thriving businesses and reinventing environmental conservation.

NEOM will include hyperconnected, cognitive cities, ports and enterprise zones, research centers, sports and entertainment venues and tourist destinations. As a hub for innovation, entrepreneurs, business leaders and companies will come to research, incubate and commercialize new technologies and enterprises in groundbreaking ways. Residents of NEOM will embody an international ethos and embrace a culture of exploration, risk-taking and diversity.

For further information email [email protected] or visit www.neom.com and www.neom.com/en-us/newsroom.

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This material is distributed by Teneo Strategy LLC on behalf of NEOM Company. Additional information is available at the Department of Justice, Washington, DC.

SOURCE NEOM Company