• Saudi Arabia's Crown Prince Mohammed bin Salman on Monday said the designs of The Line, at Neom - Saudi Arabia’s $500 billion giga-project - will 'embody how urban communities will be in the future'. Photo: Spa
    Saudi Arabia's Crown Prince Mohammed bin Salman on Monday said the designs of The Line, at Neom - Saudi Arabia’s $500 billion giga-project - will 'embody how urban communities will be in the future'. Photo: Spa
  • Depictions in a planning document show The Line as a massive micro that would be located at the Gulf of Aqaba and part of it extends into the sea.
    Depictions in a planning document show The Line as a massive micro that would be located at the Gulf of Aqaba and part of it extends into the sea.
  • The Line will feature an outer mirror facade that will allow its unique character to blend with nature. Photo: Neom
    The Line will feature an outer mirror facade that will allow its unique character to blend with nature. Photo: Neom
  • The Line embodies urban communities of the future. Photo: Neom
    The Line embodies urban communities of the future. Photo: Neom
  • Trojena will be a year-round tourism destination with a man-made freshwater lake, mountain biking, water sports and more. Photo: Neom
    Trojena will be a year-round tourism destination with a man-made freshwater lake, mountain biking, water sports and more. Photo: Neom
  • A rendering of Oxagon in Saudi Arabia. Photo: Neom
    A rendering of Oxagon in Saudi Arabia. Photo: Neom
  • A rendering of The Line on Neom. Photo: Spa
    A rendering of The Line on Neom. Photo: Spa
  • A rendering of The Line on Neom. Photo: Spa
    A rendering of The Line on Neom. Photo: Spa
  • A rendering of The Line on Neom. Photo: Spa
    A rendering of The Line on Neom. Photo: Spa
  • A rendering of The Line on Neom. Photo: Spa
    A rendering of The Line on Neom. Photo: Spa
  • A rendering of The Line on Neom. Photo: Spa
    A rendering of The Line on Neom. Photo: Spa
  • A rendering of The Line on Neom. Photo: Spa
    A rendering of The Line on Neom. Photo: Spa
  • A rendering of The Line on Neom. Photo: Spa
    A rendering of The Line on Neom. Photo: Spa
  • A rendering of The Line on Neom. Photo: Spa
    A rendering of The Line on Neom. Photo: Spa
  • A rendering of The Line on Neom. Photo: Spa
    A rendering of The Line on Neom. Photo: Spa
  • A rendering of The Line on Neom. Photo: Spa
    A rendering of The Line on Neom. Photo: Spa
  • A rendering of The Line on Neom. Photo: Spa
    A rendering of The Line on Neom. Photo: Spa
  • A rendering of The Line on Neom. Photo: Spa
    A rendering of The Line on Neom. Photo: Spa

Gulf

Saudi Arabia

Mirror Line: Saudi Arabia's Neom to build the world's longest skyscraper

Crown Prince announced the designs of The Line

Mona Farag
Mona Farag

July 25, 2022

  • English
  • Arabic

Saudi Arabia's $500 billion Neom project is set to be home to a record-setting 120km-long skyscraper called the Mirror Line.

According to documents seen by The Wall Street Journal, the world’s largest structure will comprise two buildings up to 490 metres tall, running parallel for 120 kilometres.

The structures will be connected by walkways and a high-speed train will run beneath.

Following on the heels of the WSJ report, Saudi Crown Prince Mohammed bin Salman on Monday said The Line, in the kingdom’s $500 billion giga-project Neom, will “embody how urban communities will be in the future”.

Prince Mohammed announced the designs of The Line, which “puts human first, providing an unprecedented urban” living experience while preserving nature.

“The idea of layering city functions vertically, giving people possibility of moving seamlessly in three dimensions to access them, is a concept referred to as Zero Gravity Urbanism,” Prince Mohammed said.

The Mirror Line is designed by the US-based Morphosis Architects and the project involves at least nine other design and engineering consultancies.

They proposed building it in stages by creating 790-metre-long structures of varying heights up to 490 metres that will connect in a line.

The project builds on Crown Prince Mohammed bin Salman's announcement in January of plans to create a linear community that is expected to cost up to a trillion dollars and house about five million people when complete.

Prince Mohammed said the entire 170-kilometre coastal strip in the north-west of Saudi Arabia would be free of cars and streets, with zero carbon emissions.

The Mirror Line is one of a series of projects that make up Neom.

Four other developments, Neom Bay, Aqaba Region, Neom Mountain and Neom Industrial City, are intended to surround it.

There is also the planned project named the Vault which is a resort built into a mountainside.

Unveiled by Prince Mohammed in 2017, Neom is Saudi Arabia's flagship business and tourism development on the Red Sea coast and a central project in the 2030 Vision outlining the kingdom's plans to diversify the economy.

The development will include smart towns and cities, ports and enterprise areas, research centres, sports and entertainment venues and tourist centres.

It will be spread across 26,500 square kilometres and will comprise several zones, including industrial and logistics areas, all planned for completion in 2025.

People are expected to begin arriving in 2024, Neom's head of tourism said. The area is predicted to be home to millions by 2030.

  • Trojena will open in 2026 as part of Saudi Arabia's megacity of the future. Photo: Neom
    Trojena will open in 2026 as part of Saudi Arabia's megacity of the future. Photo: Neom
  • Trojena is designed to attract visitors, holidaymakers and winter sports enthusiasts from around the world. PA
    Trojena is designed to attract visitors, holidaymakers and winter sports enthusiasts from around the world. PA
  • The design plan for Trojena, an area in Saudi Arabia's planned megacity of Neom chosen to host the 2029 Asian Winter Games. AFP
    The design plan for Trojena, an area in Saudi Arabia's planned megacity of Neom chosen to host the 2029 Asian Winter Games. AFP
  • The Line is also being built at Neom. It will be free of cars and streets and have zero carbon emissions. Photo: Neom
    The Line is also being built at Neom. It will be free of cars and streets and have zero carbon emissions. Photo: Neom
  • Neom chief executive Nadhmi Al Nasr said The Line would make use of artificial intelligence technology to the fullest. Photo: Neom
    Neom chief executive Nadhmi Al Nasr said The Line would make use of artificial intelligence technology to the fullest. Photo: Neom
  • Neom city will be powered by clean energy, officials say. Photo: Neom
    Neom city will be powered by clean energy, officials say. Photo: Neom
  • Trojena in Neom will host the first outdoor snow skiing destination in the GCC region. Photo: Neom
    Trojena in Neom will host the first outdoor snow skiing destination in the GCC region. Photo: Neom
  • Neom lies in a desert bordering the Red Sea in Saudi Arabia. Reuters
    Neom lies in a desert bordering the Red Sea in Saudi Arabia. Reuters
  • Architects say Neom will be designed to make the most of its environmental surroundings. Photo: Neom
    Architects say Neom will be designed to make the most of its environmental surroundings. Photo: Neom
  • Andrew McEvoy, sector head for tourism at Neom, at Arabian Travel Market held at Dubai World Trade Centre. Pawan Singh / The National
    Andrew McEvoy, sector head for tourism at Neom, at Arabian Travel Market held at Dubai World Trade Centre. Pawan Singh / The National
  • The $500bn Neom project in the Tabuk Province of north-western Saudi Arabia is supported by the kingdom's Public Investment Fund. Photo: Saudi Commission for Tourism and Natural Heritage
    The $500bn Neom project in the Tabuk Province of north-western Saudi Arabia is supported by the kingdom's Public Investment Fund. Photo: Saudi Commission for Tourism and Natural Heritage
While you're here
COMPANY%20PROFILE
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Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption. 

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks. 

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes. 

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion. 

8. Pillar 2 implementation 

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity. 

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

Top investing tips for UAE residents in 2021

Build an emergency fund: Make sure you have enough cash to cover six months of expenses as a buffer against unexpected problems before you begin investing, advises Steve Cronin, the founder of DeadSimpleSaving.com.

Think long-term: When you invest, you need to have a long-term mindset, so don’t worry about momentary ups and downs in the stock market.

Invest worldwide: Diversify your investments globally, ideally by way of a global stock index fund.

Is your money tied up: Avoid anything where you cannot get your money back in full within a month at any time without any penalty.

Skip past the promises: “If an investment product is offering more than 10 per cent return per year, it is either extremely risky or a scam,” Mr Cronin says.

Choose plans with low fees: Make sure that any funds you buy do not charge more than 1 per cent in fees, Mr Cronin says. “If you invest by yourself, you can easily stay below this figure.” Managed funds and commissionable investments often come with higher fees.

Be sceptical about recommendations: If someone suggests an investment to you, ask if they stand to gain, advises Mr Cronin. “If they are receiving commission, they are unlikely to recommend an investment that’s best for you.”

Get financially independent: Mr Cronin advises UAE residents to pursue financial independence. Start with a Google search and improve your knowledge via expat investing websites or Facebook groups such as SimplyFI. 

UAE%20medallists%20at%20Asian%20Games%202023
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UAE currency: the story behind the money in your pockets
GAC GS8 Specs

Engine: 2.0-litre 4cyl turbo

Power: 248hp at 5,200rpm

Torque: 400Nm at 1,750-4,000rpm

Transmission: 8-speed auto

Fuel consumption: 9.1L/100km

On sale: Now

Price: From Dh149,900

Ticket prices

General admission Dh295 (under-three free)

Buy a four-person Family & Friends ticket and pay for only three tickets, so the fourth family member is free

Buy tickets at: wbworldabudhabi.com/en/tickets

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On Women's Day
Dubai World Cup draw

1. Gunnevera

2. Capezzano

3. North America

4. Audible

5. Seeking The Soul

6. Pavel

7. Gronkowski

8. Axelrod

9. New Trails

10. Yoshida

11. K T Brave

12. Thunder Snow

13. Dolkong 

Sreesanth's India bowling career

Tests 27, Wickets 87, Average 37.59, Best 5-40

ODIs 53, Wickets 75, Average 33.44, Best 6-55

T20Is 10, Wickets 7, Average 41.14, Best 2-12

While you're here
More on Yemen's civil war
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Monster Hunter: World

Capcom

PlayStation 4, Xbox One

Low turnout
Two months before the first round on April 10, the appetite of voters for the election is low.

Mathieu Gallard, account manager with Ipsos, which conducted the most recent poll, said current forecasts suggested only two-thirds were "very likely" to vote in the first round, compared with a 78 per cent turnout in the 2017 presidential elections.

"It depends on how interesting the campaign is on their main concerns," he told The National. "Just now, it's hard to say who, between Macron and the candidates of the right, would be most affected by a low turnout."

Winners

Best Men's Player of the Year: Kylian Mbappe (PSG)

Maradona Award for Best Goal Scorer of the Year: Robert Lewandowski (Bayern Munich)

TikTok Fans’ Player of the Year: Robert Lewandowski

Top Goal Scorer of All Time: Cristiano Ronaldo (Manchester United)

Best Women's Player of the Year: Alexia Putellas (Barcelona)

Best Men's Club of the Year: Chelsea

Best Women's Club of the Year: Barcelona

Best Defender of the Year: Leonardo Bonucci (Juventus/Italy)

Best Goalkeeper of the Year: Gianluigi Donnarumma (PSG/Italy)

Best Coach of the Year: Roberto Mancini (Italy)

Best National Team of the Year: Italy 

Best Agent of the Year: Federico Pastorello

Best Sporting Director of the Year: Txiki Begiristain (Manchester City)

Player Career Award: Ronaldinho

Dark Souls: Remastered
Developer: From Software (remaster by QLOC)
Publisher: Namco Bandai
Price: Dh199

EA Sports FC 24
COMPANY PROFILE

Name: Xpanceo

Started: 2018

Founders: Roman Axelrod, Valentyn Volkov

Based: Dubai, UAE

Industry: Smart contact lenses, augmented/virtual reality

Funding: $40 million

Investor: Opportunity Venture (Asia)

The specs

Engine: 3.9-litre twin-turbo V8

Transmission: seven-speed

Power: 720hp

Torque: 770Nm

Price: Dh1,100,000

On sale: now

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The Greatest Royal Rumble card as it stands

50-man Royal Rumble - names entered so far include Braun Strowman, Daniel Bryan, Kurt Angle, Big Show, Kane, Chris Jericho, The New Day and Elias

Universal Championship Brock Lesnar (champion) v Roman Reigns in a steel cage match

WWE World Heavyweight Championship AJ Styles (champion) v Shinsuke Nakamura

Intercontinental Championship Seth Rollins (champion) v The Miz v Finn Balor v Samoa Joe

United States Championship Jeff Hardy (champion) v Jinder Mahal

SmackDown Tag Team Championship The Bludgeon Brothers (champions) v The Usos

Raw Tag Team Championship (currently vacant) Cesaro and Sheamus v Matt Hardy and Bray Wyatt

Casket match The Undertaker v Chris Jericho

Singles match John Cena v Triple H

Cruiserweight Championship Cedric Alexander v tba

 

W.
Wael Kfoury
(Rotana)

The%20specs
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Updated: August 02, 2022, 11:26 AM
Saudi ArabiaNEOM