Pangeo, a new ambitious project in Saudi Arabia, is set to create a fully functional floating city. The city will feature state-of-the-art technologies and amenities, with an aim to provide sustainable living and tourism experiences. The project, which is estimated to cost $500 billion, will be located in the Red Sea off the coast of Tabuk province. It is expected to generate thousands of jobs and boost the country's economy. Pangeo is one of the latest examples of Saudi Arabia's vision to diversify its economy and create new opportunities for growth.