Saudi Arabia is building a new £387 billion high-tech city called the Oxagon on the Red Sea coast. The city is designed as a perfect octagon. 

Oxagon is part of an ambitious project being carried out by a company called NEOM. This massive development comes under Saudi Arabia’s ‘Vision 2030,’ which aims to diversify the country’s economy beyond oil. 

The city will be the world’s largest floating structure and is expected to become a global hub for trade, technology and clean energy.

Oxagon’s octagonal shape will allow it to serve as both an industrial and residential centre.

It will be divided into two main sections: one part on land and the other on the water, separated by a shipping canal. 

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The city will also be strategically located near the Suez Canal, with around 13% of global trade passing nearby.

Speaking about the project, Saudi Crown Prince Mohammed bin Salman said: “Oxagon will be the catalyst for economic growth and diversity in NEOM and the Kingdom, further meeting our ambitions under Vision 2030.

“It will redefine the world’s approach to industrial development, supporting global trade while protecting the environment.”

Oxagon aims to be a model for clean and efficient manufacturing. The city will integrate Industry 4.0 principles, including automation, robotics, artificial intelligence and the Internet of Things. 

NEOM plans to power the city with 100% renewable energy, making it one of the world’s most sustainable ports.

The city will feature a fully automated port and logistics hub, set to be operational by 2025. 

According to NEOM’s CEO, Nadhmi Al Nasr, the Port of NEOM, which has already opened, will be critical for the project’s success. 

“The Port of NEOM will be pivotal to the commercial competitiveness, economic diversification, and maritime trade ambitions of the Kingdom,” he said.

By 2026, Oxagon’s first residential precincts are expected to open, and the city aims to accommodate around 90,000 residents by 2030. 

The city will also include a marine research centre, cruise terminal, and waterfront residential zones.

In addition to being a trade and industry hub, Oxagon will promote sustainable living and innovation. It will be home to the world’s largest green hydrogen production facility, supporting the Kingdom’s push for clean energy.

Oxagon is one of several projects under NEOM, which also includes The Line, a futuristic city designed as a 100-mile linear development. 

These projects are expected to transform the region’s economy and attract global interest in Saudi Arabia’s development plans.