Saudi to begin building homes in $500 billion futuristic city Neom

Agencies
January 18, 2019

Jan 18: Saudi Arabia said it will start building the first residential area in a proposed $500 billion futuristic city that’s become a symbol of Crown Prince Mohammed bin Salman’s ambitions for life after oil.

The kingdom plans to start work on Neom Bay in the first quarter this year, according to the state-run Saudi Press Agency.

The area will have “white beaches, a mild climate and an attractive investment environment,” SPA said. Phase one of the project will be completed by 2020, according to the agency.

The planned megacity, unveiled more than a year ago, is part of the prince’s grand plan to bolster non-oil revenue and attract foreign investment with eye-popping proposals to transform the economy, including two other tourism developments.

Neom is to be financed by the Saudi government, its sovereign wealth fund, and local and international investors.

The project includes a bridge spanning the Red Sea, connecting the proposed city to Africa. Some 10,000 square miles (25,900 square kilometers) have been allocated for the development of the urban area, which will stretch into Jordan and Egypt.

Critics have questioned the mega project after previous efforts to build industrial and financial cities have struggled to take off.

Construction of the $10 billion King Abdullah Financial District in north Riyadh began in 2006 but the 73-building hub remains unfinished.

Prince Mohammed, in an interview with Bloomberg in October, referred to the first phase of the project as the Neom Riviera.

“Neom city will be completed in 2025,” he said, adding without elaborating that “there are interesting partners in the Middle East and globally. Interesting names.”

A number of facilities will be opened at Neom by the end of this year, SPA reported, without providing further details. The private airport at the site will be used for commercial flights by year-end, it said.

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News Network
January 9,2025

Mangaluru: In a significant development, Mescom has proposed a phased electricity tariff hike starting with Rs 0.70 per unit for the fiscal year 2025-26. The proposal has been submitted to the Karnataka Electricity Regulatory Commission (KERC) for approval, signaling a potential increase in electricity costs for consumers.

Mescom emphasized that the current tariff structure is insufficient to meet operational expenses and manage revenue effectively. To address this, the company has invited public objections to the proposed hike.

Currently, the electricity supply cost is Rs 9.23 per unit, while the consumer tariff stands at Rs 8.53 per unit, leading to a shortfall of Rs 0.70 per unit. For the financial year 2023-24, Mescom reported revenue of Rs 5,924.73 crore against an expenditure of Rs 6,310.39 crore, resulting in a deficit of Rs 367.66 crore. For the 2025-26 fiscal year, projected revenue is Rs 5,850.81 crore, with an actual requirement of Rs 5,961.63 crore, creating a deficit of Rs 110.82 crore.

In a first, Mescom has submitted a multi-year tariff revision proposal to KERC. The plan outlines a hike of Rs 0.70 per unit for 2025-26, followed by Rs 0.37 per unit for 2026-27 and Rs 0.54 per unit for 2027-28.

"An increase in electricity tariff is inevitable," stated Jayakumar R, Managing Director of Mescom. "Mescom has submitted a proposal in this regard to KERC."

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News Network
January 7,2025

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Mangaluru: A tragic road accident claimed the life of a young medical store owner on Monday, January 6, near Tiblapadavu, Natekallu, located on the outskirts of the city.

The victim, identified as 25-year-old Ausaf, was the proprietor of Hajira Medicals and the son of Jaleel, a resident of Derlakatte. 

The unfortunate incident unfolded as Ausaf was riding his bike from Derlakatte toward Tiblapadavu. Upon approaching a divider near Tiblapadavu, a lorry made a sudden turn, resulting in a collision between the motorbike and the rear of the lorry. Ausaf succumbed to his injuries on the spot.

Having completed his education a few years ago, Ausaf had taken up the responsibility of managing Hajira Medicals at Derlakatte Junction. He was well-known in his community for his dedication and service.

Authorities at the Mangaluru South Traffic Police Station have registered a case, and CCTV footage capturing the incident is under review. The tragic loss has left the local community in shock, mourning the untimely demise of a promising young entrepreneur. 

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News Network
January 1,2025

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A new report released by the UN Human Rights Office says Israel’s indiscriminate attacks on hospitals in Gaza have had a catastrophic effect on the territory’s healthcare system.

Jeremy Laurence, Spokesperson for the Office of the UN High Commissioner for Human Rights (OHCHR) said on Tuesday the regime has used heavy bombs to attack civilians taking shelter in hospitals.

Laurence added that the UN office has also verified the precision targeting of people inside hospitals, including healthcare workers.

He stressed that deliberate attacks on places where the sick and wounded are treated is a war crime.

“And beyond the conflict itself, civilians were seriously impacted. Women, especially pregnant women, have suffered gravely,” he said.

“Our Office received reports that newborns had died because their mothers were unable to attend postnatal check-ups or reach medical facilities to give birth,” he added.

“Intentionally directing attacks against hospitals and places where the sick and wounded are treated, provided they are not military objectives, is a war crime,” he said.

“Intentionally directing attacks against the civilian population as such or against individual civilians not taking direct part in hostilities is a war crime. And intentionally launching disproportionate attacks is also war crime,” he stated.

Laurence said the Israeli regime’s pattern of deadly attacks on Gaza hospitals has pushed the healthcare system to the brink of total collapse.

His remarks came after UN human rights chief, Volker Turk, said earlier that Gaza's hospitals have become a death trap.

He urged independent and credible investigations into hospital-related incidents in Gaza.

Gaza’s population has been reduced by 6 percent since the beginning of the Israeli regime’s campaign of genocide in the besieged Palestinian territory in 2023, the Palestinian Central Bureau of Statistics said.

According to the bureau’s report published on Tuesday, the Israeli offensive has left 45,541 Palestinians dead, 11,000 missing and believed to be under the rubble. At least 100,000 have also been forced to flee, the report said.

The report reveals that “90% of children aged 6 to 23 months and pregnant women” face severe nutritional deficiencies in Gaza.

The report also indicates the Israeli forces deliberately “target specific groups of the population, such as children and youth,” which leads to a significant “distortion … of the population.”

According to the bureau, this will greatly reduce the birth rate, and negatively affect the age and gender structure of the population during the years to come.

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