NEOM, Kingdom of Saudi Arabia – June 5, 2024 – The NEOM Board of Directors announces the development of Magna, a transformative luxury lifestyle destination along the Gulf of Aqaba coastline.
Magna represents a cornerstone of NEOM’s regional sustainable tourism portfolio. Encompassing twelve distinct destinations – Leyja, Epicon, Siranna, Utamo, Norlana, Aquellum, Zardun, Xaynor, Elanan, Gidori, Treyam, and Jaumur – Magna spans 120 kilometers and is poised to redefine luxury sustainable tourism on a global scale.
A Vision for the Future
Inspired by the forward-thinking Saudi Vision 2030, Magna prioritizes cutting-edge technology, world-class architecture, and contemporary amenities that seamlessly integrate with the environment. Each destination offers a unique experience for residents and visitors, all woven together by a commitment to conservation and the preservation of the region’s natural beauty.
The development includes 15 luxury hotels, boasting 1,600 hotel rooms, suites, and apartments, alongside over 2,500 premium residences.
A Catalyst for Economic Growth
Nadhmi Al-Nasr, Chief Executive Officer of NEOM, emphasizes Magna’s role in achieving Saudi Vision 2030 goals. “Magna will play a key role in building a strong tourism ecosystem within NEOM, contributing to national economic diversification and positioning the Kingdom as a leader in luxury tourism,” he states.
Magna is projected to create 15,000 jobs in the tourism, leisure, and hospitality sectors, contribute SAR2.6 billion to the Kingdom’s GDP by 2030, and accommodate over 14,500 residents and 300,000 annual visitors.
Sustainable by Design
Magna presents an unparalleled opportunity for investors and developers to participate in a pioneering project with sustainability at its core. Every aspect, from design and construction to long-term maintenance, prioritizes environmental responsibility.
Magna joins Sindalah, THE LINE, Trojena, and Oxagon as NEOM’s newest region within this transformative giga-project in northwest Saudi Arabia.
