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Eye of Dubai
Business & Money | Tuesday 6 February, 2024 11:15 am |
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NEOM Opens New York Office As Base For Business Across The United States

NEOM, the sustainable regional development taking shape in northwest Saudi Arabia, has opened its first U.S. office in New York City, one of the world’s foremost financial centers, which will serve as a base for NEOM’s business across the United States. NEOM’s latest international office at 50 Hudson Yards in Manhattan follows the launch of its London office in November 2023. 

 

Honored guest, HRH Ambassador Reema Bandar Al Saud, Saudi Arabia’s Ambassador to the United States, attended the official opening at the invitation of Nadhmi Al-Nasr, CEO of NEOM, who hosted the occasion, and addressed the distinguished guests and strategic partners in attendance.

 

The New York City office will further strengthen existing relationships between NEOM and U.S. entities and present an opportunity to explore new partnerships and sources of investment from the United StatesClose collaboration with innovative and world-leading U.S. industries, corporations, and investors, will accelerate NEOM’s efforts to address global challenges by redefining livability, business, and conservation.

 

HRH Ambassador Reema Bandar Al Saud, said: “We are delighted for NEOM to open an office in New York. The potential impact of NEOM extends far beyond Saudi borders. By serving as a catalyst for innovation, sustainable development, and economic diversification, NEOM has the power to inspire similar initiatives around the world - driving positive change and serving as a blueprint for the cities of tomorrow.” 

 

Nadhmi Al-Nasr, CEO of NEOM, said: “In order to continue to achieve the vision of NEOM, it is imperative that we work alongside global partners that can accelerate our efforts. We chose New York City as our second international NEOM office due to its position as a global capital for business and finance. NEOM has already established many investments and partnerships with U.S. entities, and through this office, we intend to build our relationships among key industry verticals and business sectors.”

 

Bob Stefanowski will lead the NEOM USA Office as Managing Director. Mr. Stefanowski is a proven global financial executive who has previously held C-suite positions at General Electric, UBS and 3i Group plc.

 

An example of NEOM’s existing partnerships with US entities, NEOM Green Hydrogen Company (NGHC), demonstrates the potential that exists for further collaboration in transformational industries. An equal joint venture between USA Company Air Products (NYSE: APD), ACWA Power and NEOM, NGHC is building the world’s largest carbon free green hydrogen plant in Oxagon in NEOM at a total investment value of $8.4 billion. Having a physical presence in New York will enhance NEOM’s ability to partner with US companies to incubate and commercialize new sustainable technologies that can be leveraged in NEOM and across the globe.

 

-ends-

 

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