Neo Space Group

Neo Space Group (NSG) is a national company owned by the Public Investment Fund (PIF) in the Kingdom of Saudi Arabia. It operates in the space sector and satellite services both locally and globally. Announced on May 27, 2024, it is the first PIF investment focusing entirely on space sector industries.

NSG aims to develop and enhance commercial operations such as startups, initiatives, and technologies related to the space sector and satellite services in the Kingdom. It seeks to innovate solutions that serve the satellite and space ecosystem locally and internationally. The group will invest in local and international assets and capabilities, as well as promising venture capital opportunities to catalyze the advancement and localization of sector-specific expertise.

The establishment of NSG marks a significant step in developing capabilities in the satellite services and space sector in the Kingdom, aiming to achieve global leadership in the field. It represents a strategic move by the PIF, as the company is the first investment to focus entirely on the aerospace industry. This will provide new opportunities for the local economy and the private sector, stimulate economic growth in related sectors, and support the localization of vital activities, aligning with the PIF's strategy to enable promising sectors in the Kingdom, diversify the national economy, and increase non-oil revenues.

NSG focuses on the deployment and development of the latest cutting-edge technologies in the space industry, through its four dedicated business units: satellite communications, earth observation and remote sensing, satellite navigation, and Internet of Things (IoT), along with a satellite and space-focused venture capital fund.