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NEOM Fund Invests $100 Million In Pony.ai Self-Driving Vehicles
The collaboration will help to develop advanced vehicles and smart infrastructure for NEOM and other regional markets.
The NEOM Investment Fund, a newly formed organization that works on behalf of Saudi Arabia’s mega-city NEOM, has invested $100 million in Pony.ai, a California-based autonomous vehicle solutions company.
As part of the investment, a joint partnership will be formed between NEOM and Pony.ai to develop, manufacture, and deliver self-driving autonomous vehicles and their required infrastructure.
The investment aligns with NEOM‘s plans to provide sustainable, hyperconnected transport across the $500 billion urban development, explained Majid Mufti, chief executive of the NIF, who said, “Pony.ai’s autonomous driving technology is already available today, and we are excited to be able to utilize it in NEOM in the near future,” he said.

Pony.ai’s expansion into NEOM isn’t the company’s first entry into the MENA region. Last week, the vehicle firm joined Abu Dhabi’s Smart and Autonomous Vehicles Industry, which will trial its latest technologies at the Yas Island testing zone.
NEOM is a vital part of Saudi Arabia’s Vision 2030 strategy, a major economic diversification program that hopes to shift the country’s reliance from the oil industry to technological developments. The NIF will focus on private sector investment and will directly fund solutions piloted and grown in NEOM, which could then be exported worldwide.
Also Read: Saudi Arabia Plans Digital Twins For 5 Cities, Including Mecca
The fund will also assume the role of portfolio manager for NEOM’s assets and companies, safeguarding returns for shareholders and investors and underpinning NEOM’s long-term financial sustainability.
The NIF’s strategy is designed to align NEOM’s objectives with those of institutional investors and innovators, “de-risking opportunities for them to participate in creating core global growth businesses and a thriving economy” in the new mega-city, Mr. Mufti explained.
News
Syria Just Got Its First Super App Featuring Built-In Digital Payments
Built by UAE-based Syrian founders with the Ministry of Tourism’s backing, My Syria lands as visitor numbers more than double.
For most of the past decade, paying for anything in Syria with an international card was effectively impossible. Sanctions, a collapsed banking sector, and years of isolation left the country running on cash. That is what makes the launch of My Syria — the country’s first super app — more than a routine product announcement.
Developed by 121 Living, a company founded by four UAE-based Syrian entrepreneurs — Rami Kaiem, Feras Kaiem, Waseem Qudmani, and Kinan Madi — the app launched in Damascus on July 30 under the patronage of Minister of Tourism Mazen Al-Salhani. It bundles hotels, restaurants, transport, attractions, food delivery, and other lifestyle services into a single platform, currently offering eight services with plans to expand to more than 40 verified tourism and hospitality providers across the country.
Although the app already sounds enticing, the headline feature is its built-in payments. My Syria is the first platform in Syria to support cross-border digital payments through Apple Pay, Google Pay, Visa, Mastercard, and American Express — familiar tools for international visitors, and a route into the digital economy for local businesses that have long operated outside it.

The launch rides on a sharp rebound for the troubled country. Syria’s tourism sector recorded 3.52 million visitor arrivals in the first half of 2026, a 111 percent increase over the 1.67 million during the same period in 2025 — a mix of returning expatriates, regional visitors, and international tourists.
Also Read: This UAE Platform Wants To Replace Fashion Photo Shoots With AI
The Ministry of Tourism, which supported and supervised the app’s development, frames the launch as proof of concept for a wider strategy. “Digital transformation is one of the Ministry’s strategic priorities because it enables us to build a more competitive, connected and investment-ready tourism sector,” Al-Salhani said, inviting technology companies “globally, regionally and locally” to explore opportunities across the wider economy.
For 121 Living, this is phase one, with additional services and expanded geographic coverage planned. Whether a super app can flourish in a market still rebuilding its infrastructure is an open question, but for the first time in years, a visitor to Damascus can pay for dinner with their phone.
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