Oxagon at Neom: Saudi Arabia to build 'world's largest floating industrial complex'


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Saudi Crown Prince Mohammed bin Salman has announced a futuristic new industrial city in the sea called Oxagon.

The city is set to be the largest floating industrial complex in the world.

"Oxagon will be the catalyst for economic growth and diversity in Neom and the kingdom, further meeting our ambitions under Vision 2030," Prince Mohammed, who is also chairman of Neom, said in a statement.

"It will contribute to Saudi Arabia’s regional trade and commerce, and support creating a new focal point for global trade flows," he said. "I am pleased to see that business and development have started on the ground and we look forward to the city’s rapid expansion."

Oxagon will establish the world’s first fully integrated port and supply chain ecosystem for Neom.

It will be built as an industrial city to showcase a radical new model for future manufacturing centres, one designed to help to protect the environment while creating jobs and growth for Neom.

Neom's Chief Executive Officer Nadhmi Al Nasr said through Oxagon, "there will be a fundamental shift in how the world views manufacturing centers. Oxagon will be a comprehensive cognitive city that provides exceptional livability for its residents".

The plan for Oxagon is to be a net zero city fully powered by clean energy.

Oxagon’s industrial development plan will focus on seven sectors – sustainable energy, autonomous mobility, water innovation, sustainable food production, health and well-being, modern methods of construction and technology and digital manufacturing, including telecoms, space technology and robotics.

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15 mega-projects shaping the future of Saudi Arabia

  • Sharaan Nature Reserve near the town of AlUla in north-western Saudi Arabia. AFP
    Sharaan Nature Reserve near the town of AlUla in north-western Saudi Arabia. AFP
  • King Abdullah instructed the Riyadh Metro be completed within four years. Photo: Zaha Hadid Architects
    King Abdullah instructed the Riyadh Metro be completed within four years. Photo: Zaha Hadid Architects
  • A rendering of the Jeddah Tower. Photo: EC Harris / Mace
    A rendering of the Jeddah Tower. Photo: EC Harris / Mace
  • King Salman Park. Photo: Omrania
    King Salman Park. Photo: Omrania
  • A traditional Saudi Al Ardah dance in front of Salwa Palace in At-Turaif in Ad Diriyah. Photo: Meshari Almuhanna / DGDA
    A traditional Saudi Al Ardah dance in front of Salwa Palace in At-Turaif in Ad Diriyah. Photo: Meshari Almuhanna / DGDA
  • An illustration of the Amaala mega-project - one of a number of coastal and tourism schemes Saudi Arabia is developing under Vision 2030. Photo: Saudi Commission for Tourism and Natural Heritage
    An illustration of the Amaala mega-project - one of a number of coastal and tourism schemes Saudi Arabia is developing under Vision 2030. Photo: Saudi Commission for Tourism and Natural Heritage
  • Riyad Bank has been one of the early investors in the kingdom's FinTech sector, with a 100 million riyal fund announced. Reuters
    Riyad Bank has been one of the early investors in the kingdom's FinTech sector, with a 100 million riyal fund announced. Reuters
  • Site of the Red Sea project, where Saudi Arabia is planning a huge tourism venture encompassing 90 islands. Photo: Consulum
    Site of the Red Sea project, where Saudi Arabia is planning a huge tourism venture encompassing 90 islands. Photo: Consulum
  • The Qiddiya City 'giga project' is an entertainment site being developed in Riyadh.
    The Qiddiya City 'giga project' is an entertainment site being developed in Riyadh.
  • Saudi Real Estate Company for Infrastructure won the contract to develop infrastructure of Al Widyan mega-project. Waseem Obaidi for The National
    Saudi Real Estate Company for Infrastructure won the contract to develop infrastructure of Al Widyan mega-project. Waseem Obaidi for The National
  • A low-carbon tram will connect visitors from AlUla International Airport across the five districts that make up The Journey Through Time. Photo: RCU
    A low-carbon tram will connect visitors from AlUla International Airport across the five districts that make up The Journey Through Time. Photo: RCU
German intelligence warnings
  • 2002: "Hezbollah supporters feared becoming a target of security services because of the effects of [9/11] ... discussions on Hezbollah policy moved from mosques into smaller circles in private homes." Supporters in Germany: 800
  • 2013: "Financial and logistical support from Germany for Hezbollah in Lebanon supports the armed struggle against Israel ... Hezbollah supporters in Germany hold back from actions that would gain publicity." Supporters in Germany: 950
  • 2023: "It must be reckoned with that Hezbollah will continue to plan terrorist actions outside the Middle East against Israel or Israeli interests." Supporters in Germany: 1,250 

Source: Federal Office for the Protection of the Constitution

Red flags
  • Promises of high, fixed or 'guaranteed' returns.
  • Unregulated structured products or complex investments often used to bypass traditional safeguards.
  • Lack of clear information, vague language, no access to audited financials.
  • Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
  • Hard-selling tactics - creating urgency, offering 'exclusive' deals.

Courtesy: Carol Glynn, founder of Conscious Finance Coaching

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10 tips for entry-level job seekers
  • Have an up-to-date, professional LinkedIn profile. If you don’t have a LinkedIn account, set one up today. Avoid poor-quality profile pictures with distracting backgrounds. Include a professional summary and begin to grow your network.
  • Keep track of the job trends in your sector through the news. Apply for job alerts at your dream organisations and the types of jobs you want – LinkedIn uses AI to share similar relevant jobs based on your selections.
  • Double check that you’ve highlighted relevant skills on your resume and LinkedIn profile.
  • For most entry-level jobs, your resume will first be filtered by an applicant tracking system for keywords. Look closely at the description of the job you are applying for and mirror the language as much as possible (while being honest and accurate about your skills and experience).
  • Keep your CV professional and in a simple format – make sure you tailor your cover letter and application to the company and role.
  • Go online and look for details on job specifications for your target position. Make a list of skills required and set yourself some learning goals to tick off all the necessary skills one by one.
  • Don’t be afraid to reach outside your immediate friends and family to other acquaintances and let them know you are looking for new opportunities.
  • Make sure you’ve set your LinkedIn profile to signal that you are “open to opportunities”. Also be sure to use LinkedIn to search for people who are still actively hiring by searching for those that have the headline “I’m hiring” or “We’re hiring” in their profile.
  • Prepare for online interviews using mock interview tools. Even before landing interviews, it can be useful to start practising.
  • Be professional and patient. Always be professional with whoever you are interacting with throughout your search process, this will be remembered. You need to be patient, dedicated and not give up on your search. Candidates need to make sure they are following up appropriately for roles they have applied.

Arda Atalay, head of Mena private sector at LinkedIn Talent Solutions, Rudy Bier, managing partner of Kinetic Business Solutions and Ben Kinerman Daltrey, co-founder of KinFitz

Why are asylum seekers being housed in hotels?

The number of asylum applications in the UK has reached a new record high, driven by those illegally entering the country in small boats crossing the English Channel.

A total of 111,084 people applied for asylum in the UK in the year to June 2025, the highest number for any 12-month period since current records began in 2001.

Asylum seekers and their families can be housed in temporary accommodation while their claim is assessed.

The Home Office provides the accommodation, meaning asylum seekers cannot choose where they live.

When there is not enough housing, the Home Office can move people to hotels or large sites like former military bases.

How the bonus system works

The two riders are among several riders in the UAE to receive the top payment of £10,000 under the Thank You Fund of £16 million (Dh80m), which was announced in conjunction with Deliveroo's £8 billion (Dh40bn) stock market listing earlier this year.

The £10,000 (Dh50,000) payment is made to those riders who have completed the highest number of orders in each market.

There are also riders who will receive payments of £1,000 (Dh5,000) and £500 (Dh2,500).

All riders who have worked with Deliveroo for at least one year and completed 2,000 orders will receive £200 (Dh1,000), the company said when it announced the scheme.

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Updated: November 18, 2021, 5:26 AM