NEOM Project in Saudia Arabia Could be Scaled Down

The unveiling of ‘The Line’ a linear city as part of the NEOM project was indeed a significant moment, presenting a futuristic vision for Smart City urban development and with sustainability at its core. However, the recent reports suggesting downsizing and delays highlight the complexities involved in executing such ambitious plans.

Scaling down ‘The Line’ from a 170km to a 2.4km length is staggering and reducing the projected number of residents from 1.5 million to 300,000 indicates enormous challenges in funding, feasibility, or perhaps reassessment of priorities. These adjustments could reflect a pragmatic approach to managing resources and timelines along with an overdue appreciation of the economic realities.

The NEOM project, spearheaded by Crown Prince Mohammed bin Salman as a cornerstone of Vision 2030, aimed to diversify Saudi Arabia’s economy away from oil dependency. However, the scale and scope of such endeavours naturally encounter hurdles, ranging from technological constraints to economic fluctuations and geopolitical considerations.

The reported delay in approving NEOM’s budget underscores the need for careful financial planning and allocation, especially given the recent economic challenges faced by entities like Saudi Aramco. Despite these setbacks, the broader objectives of Vision 2030 remain significant, and reassessment in specific projects could be part of a strategic adaptation process.

The skepticism expressed by some regarding the technological feasibility and practicality of innovations proposed for NEOM underscores the need for realistic assessments and phased implementation. While ambitious ideas drive progress, ensuring their viability and sustainability requires thorough scrutiny and adaptation to real-world conditions.

Overall, while adjustments and delays may mark the journey of projects like ‘The Line’ within NEOM, the overarching goal of transforming Saudi Arabia’s economic landscape towards greater diversification and sustainability remains a fundamental objective guiding the Neom project.

(Source: The New Arab)

Become a member – follow the lead of experienced investors. Sign Up