HRH Mohammed bin Salman bin Abdulaziz, Saudi Crown Prince and Chairman of the Board of Directors of Neom Company, has announced the establishment of Oxagon, forming the next phase of its masterplan and representing a radical new model for future manufacturing centres, based on the futuristic strategies of the $500 billion new city, which aim to redefine the way humanity lives and works in the future.

Comprising a large area in the southwest corner of Neom, the core urban environment is centred around the integrated port and logistics hub that will house the majority of the city’s anticipated residents, a statement said.

Neom CEO Nadhmi Al Nasr said: “Through Oxagon, there will be a fundamental shift in how the world views manufacturing centres. What encourages us is to see the enthusiasm of a number of our partners who have shown eagerness to start their projects in Oxagon.”

Oxagon will innovate to create a truly circular economy with a collaborative environment built around research and innovation: Oxagon’s innovation campus will host the Education, Research and Innovation (ERI) ecosystem to rival established global centres, it stated.

The Saudi company said the development of Oxagon was well underway and designs were in progress for the large manufacturing facilities.

These facilities include the world’s largest green hydrogen project involving Air Products, Acwa Power and Neom in a tri-partite venture; the world’s largest and most advanced modular building construction factory with Gulf Modular International; and the largest hyperscale data center in the region, a joint venture between FAS Energy and Neom.

With a best-in-class regulatory system of its kind for mass support, Oxagon will grow rapidly and welcome its first manufacturing tenants at the beginning of 2022, it added.