Why it could be the end of The Line for Saudi Arabia’s 100-mile desert megacity
Business Basics: Neom, The Line and Saudi Arabia's economic future: will it collapse?
Saudi Arabia is significantly downscaling its ambitious Neom project, particularly the city known as The Line, due to concerns over excessive costs and repeated delays.
The original vision for The Line included a $500bn development with 500-metre-tall skyscrapers designed to house 9 million people, operating without roads or emissions.
Crown Prince Mohammed bin Salman, who launched the project as part of his Vision 2030 to diversify the economy, is reportedly frustrated with the setbacks.
The revised plans suggest a 'far smaller' project, with construction of The Line already put on hold, and a potential shift in focus towards becoming a hub for data centres and artificial intelligence.
Only the Sindalah yachting resort within Neom has opened, three years late and significantly over budget, which reportedly led to the dismissal of Neom's chief executive.