NEOM reveals Magna, its new coastal region. Credit: NEOM.

Saudi Arabia-based NEOM, a futuristic city and economic zone in the northwest of the country, has announced its latest venture in the form of luxury lifestyle coastal destination Magna.

Magna is the newest region within the evolving giga-project NEOM development, following Sindalah, THE LINE, Trojena and Oxagon.

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Magna is situated on the Gulf of Aqaba coastline and comprises the recently announced premier destinations of Aquellum, Elanan, Epicon, Gidori, Jaumur, Leyja, Norlana, Siranna, Treyam, Utamo, Xaynor and Zardun.

The twelve destinations will span 120km and offer 15 luxury hotels, 1,600 hotel rooms, suites and apartments, and 2,500 premium residences.

In line with the Saudi Vision 2030, Magna and its destinations will aim to stimulate the Kingdom’s economy by creating 15,000 jobs across the tourism, leisure and hospitality sectors.

The development is projected to contribute SR2.6bn (£546m) to the Kingdom’s GDP by 2030, accommodate 14,500 residents, and welcome more than 300,000 overnight visitors annually.

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NEOM CEO Nadhmi Al-Nasr commented: “Aligned with our three pillars of redefining business, conservation and liveability, Magna will play a key role in building a strong tourism ecosystem within NEOM.”

NEOM has secured agreements with hotel giants Marriott, Raffles, Four Seasons and IHG.

Hotel Development is the division within NEOM that is tasked with the development of the future-centric hospitality ecosystem.