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Saudi Arabia Scales Back NEOM Megacity as Costs Soar
Saudi Arabia's NEOM project is being downsized due to rising costs and delays, with The Line scaled back and a shift toward AI data centers and existing infrastructure use.
- This year, Saudi Arabia will scale back and redesign the NEOM project as a year-long internal review nears completion, with Saudi Crown Prince Mohammed bin Salman envisioning a `far smaller` development.
- Facing tighter liquidity after heavy spending, Riyadh moved to reassess NEOM amid major financial commitments for Expo 2030 and World Cup 2034, increasing budget strain.
- The Line was originally forecast to cost $500bn and span 170 kilometres, featuring 500-metre mirrored skyscrapers in a linear city, challenging its feasibility.
- Trojena ski resort will be downsized and will no longer host the Asian Winter Games 2029, with around $50bn already spent on NEOM, highlighting large sunk costs.
- NEOM's leadership change last year set a review in motion that recommends repurposing infrastructure and pivoting toward data centres and AI as the PIF manages nearly $1 trillion.
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As Neom stumbles, Saudi antisemitism surges
Good Monday morning! In today’s Daily Kickoff, we talk to journalist Jason Zengerle about his new book about Tucker Carlson’s political evolution, and look at the wave of antisemitic and anti-Israel messaging coming from Saudi Arabia in recent weeks. We spotlight White House advisor Josh Gruenbaum’s position as a key player in U.S. diplomacy, and look at the role that the United Auto Workers union is playing in anti-Israel activist efforts. Als…
Coverage Details
Total News Sources28
Leaning Left6Leaning Right5Center3Last UpdatedBias Distribution43% Left
Bias Distribution
- 43% of the sources lean Left
43% Left
L 43%
C 21%
R 36%
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