Home > NewsRelease > Gladstone Promotes $500B Saudi Mega-City
Gladstone Promotes $500B Saudi Mega-City
O'Dwyer's Public Relations News O'Dwyer's Public Relations News
For Immediate Release:
Dateline: New York , NY
Friday, September 14, 2018


Steve Lipin's Gladstone Place Partners is working for the Public Investment Fund of Saudi Arabia, which is backing the construction of a $500B mega-city that is meant to help the Kingdom diversify its economic base and reduce its dependence of energy revenues.

Crown Prince Mohammed bin Salman announced plans for Neom in 2107, which is now under construction in the northwest part of Saudi Arabia near its border with Egypt.

Neom is envisioned as a seperate economic zone, which will nurture advanced manufacturing, biotech, food, media, digital, entertainment sectors. It will operate as a "transnational entity" with its own labor/tax codes independent of Saudi law.

Situated on the Red Sea, the Neom site enjoys a temperate Mediterranean climate and is viewed by Saudi leadership as a future global hub connecting Europe, Africa and Asia. The first-phase of construction is expected to be completed in 2025.

Neom is an outgrowth of Saudi Arabia's Vision 2030, the plan to re-orient the Kingdom's economy and society.

Gladstone work's began Jan 1 and runs through July 31, 2019. It will receive $200K for establishing the Neom story and developing its brand in the US via strategic communications, thought leadership and relationship-building with top-tier media, influential commentators and key business/financial executives.

Lipin, who did a 10-year stint as Wall Street Journal finance editor and a 15-year run as Brunswick Group senior partner, launched New York-based Gladstone in 2017.  

O'Dwyer Public Relations Newsletter
New York, NY
Other experts on these topics