US EditionSaudi Arabia Reassesses The Line as Construction Advances Under New CEO
SAUDI ARABIA, JUL 14 – Saudi Arabia scales back The Line city, now expecting fewer than 300,000 residents and only 2.4km completed by 2030 amid economic and leadership challenges.
- Saudi Arabia is reassessing its 170km megacity project The Line, with construction expected to complete only 2.4km by 2030 along the Red Sea coast.
- The project was initiated as part of the Crown Prince's initiative to diversify Saudi Arabia's economy by 2030 but is encountering challenges due to escalating expenses, declining oil revenues, and budgetary shortfalls.
- The Line's original scope to host 1.5 million residents has been drastically reduced to about 300,000 people, coupled with staff departures and forced displacement of local tribes.
- Goldman Sachs warned of 'pretty significant' budget deficits and more project scaling back, while Neom's CEO initiated a 'comprehensive review' to determine feasibility.
- Despite ongoing challenges and debates over its practicality and ethical aspects, Neom continues to prioritize The Line, focusing on enhancing efficiency and advancing the project in alignment with the goals of Vision 2030.
9 Articles
9 Articles
Is Saudi Arabia about to draw a line through its mega-project?
Saudi Arabia has called in consultants to review its landmark The Line project, with questions raised about the future of the untried infrastructural endeavour, amid a reported huge overrun in costs. The experts will review The Line - a planned 170km linear city - to see whether its current blueprint is feasible and put forward possible alterations to the ambitious mega-project, according to Bloomberg. The state-run Public Investment Fund (PIF) …
Saudi Arabia Reviews Gigantic City at Neom Called The Line
Saudi Arabia has asked consulting firms to conduct a strategic review of its ambitious plans for building a futuristic city known as The Line, according to several people familiar with the matter, as the kingdom assesses priorities for its project-related expenditures.
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