Internationally renowned companies will work on NEOM’s The Line, says CEO

The Line will stretch 170 km across northwestern Saudi Arabia. Once completed, the world’s largest structure will accommodate 9 million residents using a cutting-edge vertical design. (Supplied)
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Updated 27 July 2022
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Internationally renowned companies will work on NEOM’s The Line, says CEO

RIYADH: Internationally renowned advanced engineering companies will work on NEOM’s The Line Project as the Kingdom steadily moves ahead to become a global tourist destination by 2030, according to NEOM CEO Nadhmi Al-Nasr. 

While talking with Al Arabiya about the project, Al-Nasr said that The Line Project will mark a global shift that the world has not seen so far. 

He further noted that the initial infrastructure works of The Line project began a year ago, and the advanced technologies used in the project that have not been implemented before will raise the quality of the life of residents living here. 

Al-Nasr also added that Saudi Arabian companies are also working with top-rated global firms on the project. 

Recently, Crown Prince Mohammed bin Salman unveiled the designs of The Line in NEOM. Al-Nasr revealed that these designs were finalized after six months of discussions with the Crown Prince. 

Al-Nasr added that works on facilities there related to education, university and health will begin next year. 

He further stated that further work in islands and residential areas will be commenced soon. 


Closing Bell: Saudi main index slips to close at 11,228 

Updated 15 February 2026
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Closing Bell: Saudi main index slips to close at 11,228 

RIYADH: Saudi Arabia’s Tadawul All Share Index slipped on Sunday, lost 23.17 points, or 0.21 percent, to close at 11,228.64. 

The total trading turnover of the benchmark index was SR2.99 billion ($797 million), as 170 of the stocks advanced and 82 retreated.    

On the other hand, the Kingdom’s parallel market Nomu gained 449.38 points, or 1.90 percent, to close at 24,093.12. This comes as 43 of the stocks advanced while 27 retreated.    

The MSCI Tadawul Index lost 6.07 points, or 0.40 percent, to close at 1,511.36.     

The best-performing stock of the day was Obeikan Glass Co., whose share price surged 7.54 percent to SR27.66.  

Other top performers included Alamar Foods Co., whose share price rose 6.80 percent to SR47.10, as well as Saudi Kayan Petrochemical Co., whose share price climbed 6.79 percent to SR5.66.   

Saudi Investment Bank recorded the steepest drop, falling 3.21 percent to SR13.56. 

Jahez International Co. for Information System Technology also saw its share price fall 3.15 percent to SR13.55. 

Rabigh Refining and Petrochemical Co. declined 2.78 percent to SR7.34. 

On the announcements front, Tanmiah Food Co. reported its annual financial results for the period ending Dec. 31. According to a Tadawul statement, the company recorded a net loss of SR18.8 million, compared with a net profit of SR95.8 million a year earlier. 

The net loss was mainly due to ongoing market challenges that resulted in continued pricing pressures in fresh poultry, inflationary cost pressures, higher financing expenses, and depreciation and ramp-up costs from new facilities, partially offset by increased production volumes and cost-optimization initiatives.  

Tanmiah Food Co. ended the session at SR58.20, up 3.72 percent. 

United International Holding Co., also known as Tas’heel, announced its annual financial results for the period ending Dec. 31. A bourse filing showed the company recorded a net profit of SR273.64 million in 2025, up 23.05 percent from 2024, primarily driven by a 23.4 percent rise in revenues. The revenue growth helped lift gross profit by 23.7 percent. 

Tas’heel ended the session at SR146.80, down 0.28 percent.