Saudi Arabia, Egypt in $10b deal for futuristic mega

Egyptian Coptic Pope Tawadros II, Pope of Alexandria and Patriarch of Saint Marc Episcopate receives Egyptian President Abdel Fattah al Sisi, during the opening ceremony of the new Coptic Cathedral in Cairo Egypt

Saudi Arabia, Egypt in $10b deal for futuristic mega

Speaking at a sukuk conference at the London Stock Exchange al-Saif also said Saudi Arabia had a ratio of 65 percent to 35 percent for local to global issuance, plus or minus 10 percent.

Prince Mohammad will also meet with Prime Minister Theresa May and other senior ministers, as well as members of the Royal Family.

According to a report published in Saudi news site Sabq, around 2,000 women had signed up for the event and nearly 1,500 of them took part in the race.

Read: Is Saudi sending the right signals ahead of Saudi Crown Prince's UK US trip?

The Neom Project was launched by bin Salman in October 2017, and is a promising Saudi project which seeks to build future cities.

The mega-city, with its own judicial system and legislation created to attract worldwide investors, is to focus on industries such as energy and water, biotechnology, food, advanced manufacturing and tourism, according to officials.

According to Bloomberg, Japanese SoftBank' Vision Fund aims to deploy up to $15bn in NEOM and also plans investments of as much as $10bn in the PIF.

The massive touristic stop will cover 34,000 sqkm between the cities of Amlaj and al-Wajh, in the northeastern region of the Kingdom.

Adjacent to the Red Sea and the Gulf of Aqaba close to maritime trade routes that use the Suez Canal, NEOM is said to be focusing on industries such as energy and water, biotechnology, food, advanced manufacturing and tourism. Authorities have said it would break ground in 2019 and complete its first phase by late 2022.

He was also been invited to attend a meeting of the National Security Council.

Prince Mohammed previously announced plans for the 26,500 square km zone, known as NEOM, at an worldwide investment conference in Riyadh.

This appointment is part of the efforts to modernise and promote a more moderate form of Islam by the crown prince who has promised reforms to wean Saudi Arabia off oil exports, create jobs, and open up Saudis' cloistered lifestyles.

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