Saudi Arabia will compensate Neom project developers

By Backend Office, Desk Reporter
    Noem Project | Representational Image

    Saudi Arabia’s National Program for Community Development will compensate real estate owners who are involved in Kingdom’s Neom project.

    The program, also known as “Tanmia” in Arabic, will remunerate owners in Sharma, Qayal, Al-Khuraibah, Al-Asilah, Al-Sur, Bir Fahman.

    The statement comes after the project representatives said it was pausing inventory work in April and remuneration would be paid in record time, and before the period defined in the program’s intended schedule.

    “This is to ensure that recipients are compensated in successive installments as soon as possible”
    – Neom Representative 

    The representation said it took into consideration all fieldwork executed and the guidance issued by the Ministry of Health to prevent the spread of the coronavirus and took all precautions to ensure the safety and health of the residents and workers in the program.

    It also said it will provide further financial support to the residents of centers of the first stage of Neom, in addition to a set of social and economic packages that will commit to enhancing their standard of living.

    “This is in accordance with development plans, and in coordination with the relevant government agencies, and the packages will be announced at a later stage,” the representation added.