NEOM, Saudi Arabia’s ambitious giga-project, aims to be a global hub for innovation andsustainability. To support its data-driven smart city vision, the Economics, Data, and Statistics(EDS) department was established to provide economic analysis, data insights, and statisticalproducts—key for attracting investment and informed decision-making.
As a new department, EDS faced challenges in defining its strategy, balancing its public-goodmission with commercial ambitions, and ensuring long-term financial sustainability. Itneeded to differentiate from traditional economic offices while aligning with NEOM’s broadervision. Q5 was engaged to refine EDS’ strategy, commercial modelling, and organizationaldevelopment.
Our Approach
Worked closely with the EDS leadership team to develop a comprehensive top-down strategy,drawing on global best practices to ensure the strategy was both ambitious and grounded in reality.
Conducted bottom-up engagement with staff across the department to gather insights and ensurealignment and inclusivity, ensuring the strategy reflected the team’s perspectives.
Assisted in the creation of a commercial strategy, identifying potential products and services, targetcustomer segments and the operational model’s implications.
Created financial models for both the public-good function and potential commercial operations,forecasting future profitability and aiding decision-making regarding investment priorities in peopleand technology.
Facilitated an offsite event for the EDS leadership team and staff, which helped foster collaboration,alignment, and a shared vision.
Provided ongoing ad-hoc support during the establishment phase, including budget submissionsand liaising with NEOM stakeholders.
Key Outcomes
Collaborated with EDS leadership to develop a top-down strategy, leveraging global best practices for a balance of ambition and realism.
Engaged staff across the department to gather insights, ensuring the strategy reflected their perspectives and was inclusive.
Helped create a commercial strategy, identifying potential products, customer segments, and operational implications.
Developed financial models for both public-good and commercial operations, forecasting profitability and guiding investment decisions.
Facilitated an offsite event to promote collaboration, alignment, and a shared vision within the leadership team and staff.
Provided ongoing support during the establishment phase, including budget submissions and stakeholder liaison.
