Saudi Arabia is set to redefine industrial and economic development with its ambitious project, Oxagon, touted to be the world's largest floating structure. Part of the expansive Neom development in the northeastern region of the Kingdom, Oxagon is strategically positioned on the Red Sea, near the bustling shipping lanes of the Suez Canal.

Designed with a unique octagonal shape, Oxagon will combine onshore and offshore developments with a significant portion extending into the Red Sea. The city is planned to serve as both a port and a logistics hub, enhancing Neom's role as a centre powered by renewable energy within Saudi Arabia’s Vision 2030 initiative. This initiative aims to diversify the nation’s economy and reduce its dependence on oil.

One of the project’s striking features will be the division between the land-connected base and its massive floating counterpart, which is claimed to be the largest of its kind globally. The floating section is expected to feature innovative water-filled squares and small canals, a state-of-the-art cruise terminal, and an oceanographic research centre.

Saudi Crown Prince Mohammed bin Salman emphasised that Oxagon will act as a catalyst for economic growth and diversification in Neom and across the Kingdom. He noted, "Oxagon will contribute to redefining the global approach to industrial development in the future, focusing on environmental protection while simultaneously creating job opportunities and stimulating economic growth."

The project also aims to enhance Saudi Arabia's role in regional and global trade, positioning Neom as a new key player in international trade flows. This development is part of the broader Neom project, which includes various other futuristic initiatives like The Line, a 170-kilometre-long city designed to house nine million people with minimal environmental impact.

As Oxagon takes shape, it stands as a testament to Saudi Arabia's forward-thinking approach to blending advanced technology with sustainable urban planning. However, the Neom project continues to face scrutiny over sustainability practices and the impacts on local communities, highlighting the challenges of undertaking such transformative developments.