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Neom prepares to tender second phase of worker accommodation project: Neom is set to issue a request for proposals (RFP) for a contract to develop the second phase of its workers’ accommodation project, Meed reported yesterday.
The details: A source close to the matter told Meed that the second phase of the residential development will include 20 “villages,” each worth around USD 400-500 mn for a total of USD 8 bn. The project is set to span a built-up area of about 240k sqm, enough to include 10k accommodation units each. No timeline for the tender or the project was disclosed.
Phase one concluded in June 2023: Neom’s first stage of the community villages PPP scheme, which was announced in October 2022, ended in June of last year. It was worth a total of USD 5.6 bn (SAR 21 bn). The agreement included ten villages.
Who were the preferred bidders then? They included local companies Alfanar Global Development, Almutlaq Real Estate Investment Company, Nesma Holding Company and Tamasuk, among others.
Advisors: Accounting giant Deloitte and infrastructure consulting service provider Aecom are advising Neom on the PPP housing transactions.
