Business & Money | Wednesday 18 September, 2019 1:28 am |

The NEOM company on Tuesday started construction work on the first phase of residential complexes dedicated to project workers’ housing.

The first phase will house 30,000 workers who will be moving to NEOM to develop different areas of the project.

Building work kicked off with the attendance of NEOM chief executive Nadhmi Al-Nasr as well as heads of the two Saudi companies who won contracts for the construction of the complexes, Al-Tamimi Group and Saudi Arabian Trading & Construction Co. (SATCO).

The contracts awarded on Sept. 8 allow the companies to operate the housing for 10 years.This is considered the first investment opportunity listed by NEOM.