Future of $2trillion megacity The Line hangs by thread as Saudi rulers scale back plans for scandal-hit vanity project
The future of a $2 trillion vanity project hangs by a thread as Saudi leaders grapple with the cost of building the oddly shaped desert city.
The line was first envisioned as a 100-mile chain of skyscrapers, measuring more than 1,600 feet tall and housing 1.5 million people.
The megaproject was only part of the new port city of Neom, a pet project launched by Crown Prince Mohammed bin Salman.
Currently nicknamed “the largest construction site in the world”, the city is not really living up to Saudi Arabia’s expectations.
The far-fetched construction project has already cost billions, and skeptical executives have scaled back the plans.
Plans for The Line, set to cross the desert to become the centerpiece of the luxurious, futuristic city of Neom, have been significantly scaled back in 2024.
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The linear city has been reduced from 106 miles to just 1.5 miles and is expected to accommodate a measly 300,000 residents, instead of the planned 1.5 million.
The project could now be abandoned altogether, with Saudi leaders having launched a review of the project. the crown Prince’s dream project.
Neom, which is expected to be as big as Belgium, could now transform into a “much smaller” AI hub, using seawater to cool data centers.
The Trojena ski resort was also partly demolished.
Leaders announced over the weekend that they would no longer be able to host the Asian Winter Games in 2029.
It comes as Prince Mohammed aggressively pushes for the kingdom to become a technology player and as the country prepares to host the men’s World Cup in 2034.
THE Extremely ambitious Neom was on the way to becoming a Saudi region characterized by numerous cities, sumptuous seaside resorts, and other real estate developments of a tourist nature.
But the future of The Line and other projects in Neom are hanging by a thread.
A source told the FT that the radical change “shows that the system has the capacity to adjust its objectives”.
Neom told the newspaper that this was the case: “We always look to plan and prioritize our initiatives so that they align with national objectives and create long-term value.
“As a development intended to span generations, Neom is advancing projects aligned with strategic priorities, market readiness and sustainable economic impact. »
The review is expected to be completed in a few months.
Architects are already redesigning The Line to be a fraction of its former length.
A source said: “The line will be a completely different concept. It will use existing infrastructure in a completely different way.”
As the dream came true last year, the crown prince said he was “determined – by the grace and power of God – to achieve and complete” his transformational goals.
He added: “However, we also affirm that we will not hesitate to cancel or make radical changes to any program or objective if we believe that the public interest requires it. »
