Prince Mohammed bin Salman Announces Setting up of OXAGON, World’s Largest Floating Industrial Complex Powered by Clean Energy

His Royal Highness Mohammed bin Salman, Crown Prince and Chairman of the NEOM Company Board of Directors, announced the establishment of OXAGON, forming the next phase of NEOM's master plan and representing a radical new model for future manufacturing centers, based on NEOM's strategies of redefining the way humanity lives and works in the future.

On the occasion of the announcement on the establishment of the city, His Royal Highness said: "OXAGON will be the catalyst for economic growth and diversity in NEOM and the Kingdom, further meeting our ambitions under Vision 2030. OXAGON will contribute to redefining the world's approach to industrial development in the future, protecting the environment while creating jobs and growth for NEOM. It will contribute to Saudi Arabia's regional trade and commerce, and support creating a new focal point for global trade flows. I am pleased to see that business and development have started on the ground and we look forward to the city's rapid expansion."

Nadhmi Al-Nasr, CEO of NEOM, said: "Through OXAGON, there will be a fundamental shift in how the world views manufacturing centers. What encourages us is to see the enthusiasm of a number of our partners who have shown eagerness to start their projects in OXAGON. These pioneers of change will establish factories, developed with the latest technologies in artificial intelligence, to achieve a significant leap for this era into the Fourth Industrial Revolution. As with THE LINE, OXAGON will be a comprehensive cognitive city that provides exceptional livability for its residents."

Comprising a large area in the southwest corner of NEOM, the core urban environment is centered around the integrated port and logistics hub that will house the majority of the city's anticipated residents.

The unique octagonal design minimizes impact on the environment and provides optimal land usage, with the remainder open to preserve 95% of the natural environment.

A defining feature of the city is the world's largest floating structure, which will become a center for NEOM's Blue Economy and achieve sustainable growth.

OXAGON complements the same philosophy and principles of THE LINE (which was announced in January 2021) and will offer exceptional livability in harmony with nature.

Ideally located on the Red Sea close to the Suez Canal, through which approximately 13% of the globe's trade passes, OXAGON will be one of the world's most technologically advanced logistics hubs with state-of-the-art integrated port and airport connectivity.