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Neom has finalised SR21bn ($5.6bn) of public-private partnership (PPP) housing deals for worker accommodation.

The preferred bidders for the first phase of its residential communities include local companies Alfanar Global Development, Almutlaq Real Estate Investment Company, Nesma Holding Company and Tamasuk, which is involved through two separate partners, Al-Majal al-Arabi Group Company and Saudi Arabian Trading & Construction Company (Satco).

The agreements involve building an additional 10 communities across Neom, adding capacity for 95,000 more occupants once the project's first phase is completed.

The temporary accommodation needed during Neom's construction period is being built sustainably as relocatable modular units that can be repurposed once the communities are no longer required.

The communities will include amenities such as multi-purpose sports fields, cricket ovals, tennis courts, volleyball courts, basketball courts, swimming pools and entertainment venues.

The second phase of the temporary residential project is expected to be issued to the market in the coming months. In addition to contract awards, Neom is reviewing interest from investors with plans to shortlist prequalified participants.