NEOM Unveils "Magna" in Latest Tourism Push

In the ever-evolving world of NEOM, the mega-project's board of directors has introduced a new term to the global stage this week. "Magna," as it is called, is the collective name for the previously announced tourism and living developments along the Red Sea coastline of the Tabuk region, encompassing several projects we have previously discussed on this platform.

Interestingly, Magna is also the name of a museum in Yorkshire, England, a Canadian manufacturing company, and an academy in Dorset, suggesting that the creation may have originated from an English-speaking source this time around.

Check out this video released by NEOM on the developments of Magna.

Saudi Arabian giga-project NEOM recently announced that the 12 Red Sea coastal resorts it has unveiled over the past year, catering to the ultra-wealthy, will be collectively branded under the name Magna. Last month, NEOM revealed its twelfth project, Jaumur, the latest in a series of separate announcements featuring futuristic resorts within NEOM, an area of land in north-west Saudi Arabia bordering Jordan.

According to a statement released alongside a new website showcasing the 12 sites, "The twelve destinations will span 120km and are poised to set a new global standard in luxury sustainable tourism." While NEOM did not specify if any additional resorts would be added, it appears that all the names patented with US authorities up to November last year have now been utilized.

The collective developments are set to include 15 luxury hotels with 1,600 hotel rooms, suites, and apartments, as well as more than 2,500 villas and apartments for 14,500 residents. The region, situated opposite the southern part of Egypt's Sinai Peninsula, will be served by four airports, five helipads and a private airstrip.

NEOM estimates that the developments will employ around 15,000 people and are expected to receive at least 300,000 guests per year.

NEOM is the flagship giga-project among a series of massive tourism, entertainment, and residential projects owned by the Public Investment Fund, with a combined value of approximately $1.25 trillion. The Saudi government sees these projects as crucial to creating a new economy that helps end the country's historical reliance on oil and gas revenues, with tourism projected to account for 10 percent of GDP by 2030.

However, the giga-projects have encountered challenges as foreign investment falls short of expectations and fluctuating oil prices lead to budget deficits. NEOM's 170km-long city, The Line, has been scaled back to less than 5km.

In addition to Magna, NEOM also includes an industrial city called Oxagon, a tourist island called Sindalah, which is set to open this year, and the Trojena winter resort, scheduled to open in 2027 and host the Asian Winter Games in 2029.

As NEOM continues to unveil new projects and concepts, it remains to be seen how these ambitious developments will unfold and contribute to Saudi Arabia's vision for a diversified, tourism-driven economy.

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