Hi there, I'm Michelle Lynn, Global Head of
Data Science and Insight for the Bloomberg Media Organization.
And I'm, I'm joined by Doctor Manar Moni,
chief Investment Officer at investment Office. Joining us for
the neon sponsor, spotlight redefining sustainability, livability and
business among current global challenges. Welcome to Bloomberg Invest
doctor Good morning and thank you so much for having
me here. Um OK, so we want to
start out by just saying, many of us have
heard a lot about the vertical city of the line
at N um But I understand that Niam is much
more. Uh could you provide us with a brief
overview and tell us why Niam and why? Now
? That's great. Well, I think so we
can agree on one thing that we're all trying to
do our best to create a better life and I'll
answer your question. The first one is why new
, well, simply when new was created, it
wasn't only to create a better life for Saudi Arabia
. It was simply built as a foundation of a
living laboratory where you can create new ideas, new
innovation to create a more sustainable future for all of
us. And these ideas that can be exported around
the world. And N was built on three main
pillars as a global opportunity for everyone. The first
one is to redefine sustainability by not only focusing on
100% renewable energy, but how can you build a
more circular economy to go to a net zero carbon
society? That's our aim today. It's built on
100% renewable energy, but we're pushing the limits even
to go beyond that. The second pillar that we're
focusing on is redefining livability by actually building a city
center around people, bringing time back to them and
ensuring that we are creating an exceptional high quality of
life, giving time back to people and offering for
them diverse interconnected communities, access to exceptional landscaping available
and most importantly, bringing time back to them.
And the third aspect or pillar that we focus on
is redefining businesses. Our aim is for neon businesses
to grow faster than anywhere else around the world by
creating a foundation of an infrastructure free from any legacy
, infrastructure, progressive laws and regulation that is primarily
focused on businesses to allow them to grow faster than
anywhere else around the world. So that's really the
main pillar that we're focusing on and that's the foundation
that we're presenting to the globe today. So where
is now in its development? Great question. Uh
There is a lot of development I think. So
today, when you see the, when you speak
about the word ne everyone is speaking about it.
In details, significant work have taken place in Neon
. Uh Today. Uh example, we've done uh
20% of the essential infrastructure is already in place.
Uh The amount of construction work that's taking place in
Neon is exceptional at a speed that's never been done
before. Anywhere else around the world, we've launched
the four regions so far and that is true to
our vision in which we're developing only 5% of the
land in neon and 95% is going to be untouched
by urbanization. Uh This is the line, the
vertical city, which is a true transformation when it
comes to liability, uh which is our, you
know, islands that's connected to the Red Sea ruina
a year around mountain destination and finally oxygen, which
is an industrial city that is changing the way that
we're doing business. It's a place where you can
have fortune 500 companies start ups working together to introduce
the latest innovations and technology that will help us to
introduce the future business and development. Another development is
we've achieved financial, close to the largest green hydrogen
plant that will be producing 600 tons of hydrogen on
a daily basis that can be used in new and
exported majority globally. And that's one of many to
come. And the exciting news is we had really
significant interest from the market. 23 financial institutions participated
in the close of their Green Hydrogen So how do
you navigate today's market dynamics and what do you see
for the future? No one can predict the market
dynamics. You have your ups, you have your
downs every day. It comes with a different challenge
that you see. But as an example, Saudi
Arabia Vision 2013 when it was launched back in 2016
, primary focus was diversification. At that time,
the oil prices was$30 a barrel. Today it's
70 and we're proceeding with the speed that's never been
seen before in making this transformation and change. And
as a Saudi, I'm really impressed and very proud
with the speed of how things are happening. Saudi
Arabia, world capital of energy didn't use to speak
about renewable energy. Today, they are taking the
lead in speaking about green hydrogen and new development.
So today, it's clear for us, we are
building a sustainable city, we are building a future
and today we're extending an invitation to everyone that is
as keen as we are in building a more sustainable
future to join us in this journey and building something
sustainable for the long term for us and for generations
to come. Thank you doctor for joining me today
for neon sponsor, spotlight and for discussing redefining sustainability
, livability and business among global, you know,
current global challenges. Thank you so much for having
me here.