NEOM's Magna: A Luxury Sustainable Tourism Destination in Saudi Arabia with 12 Unique Developments and SR2.6 Billion Economic Impact
Saudi Arabia's NEOM project announced a new luxury destination called Magna on Wednesday.
Magna, located on the Gulf of Aqaba coastline, will focus on technology, world-class architecture, and modern amenities that blend with nature.
It is part of NEOM's sustainable portfolio and includes the recently announced destinations of Leyja, Epicon, and others.
NEOM CEO Nadhmi Al-Nasr described Magna as a "treasure of tomorrow" with natural beauty and advanced technology.
Magna, a company playing a key role in NEOM's tourism development, will help create a luxury sustainable tourism ecosystem.
The 12 destinations, spanning 120 km, will set new standards and blend unique offerings while preserving native flora, fauna, and the natural landscape.
Magna's involvement supports Saudi Vision 2030's economic diversification and positions the Kingdom as a global luxury tourism leader.
Magna, a development project, will include 15 luxury hotels with 1,600 rooms, suites, and apartments, and over 2,500 premium residences.
This aligns with Saudi Vision 2030 and will create 15,000 jobs.
The project is projected to contribute SR2.6 billion ($690 million) to the Kingdom's GDP, accommodate 14,500 residents, and welcome over 300,000 annual overnight visitors.