NEOM
This review of the large-scale initiative, which has faced delays and exceeded its budget, is anticipated to be finalized by the end of the first quarter of 2025 or later.
Sources from the newspaper indicate that the Crown Prince now envisions the project as being "much smaller," showing that the government recognizes the shortcomings of the original ambitious vision, the communication strategy, and the initial construction phase, according to the FT.
Launched in 2017, the project originally planned to establish Neom along the Red Sea coast, covering an area about the size of Belgium, and transform it into a free economic zone.
Following this, Saudi Arabia announced several projects within Neom, including the development of the futuristic city The Line, the Trojena ski resort, which was planned to host the 2029 Asian Winter Games, and a coastal logistics and industrial zone known as Oxagon.
On January 24, the Saudi government announced that the Trojena project would be downsized and would not be able to host the Winter Games as originally planned. Construction of The Line would also be significantly reduced.
According to FT sources, Neom might evolve into a data center hub, aligning with Saudi Arabia's broader objective of becoming a global leader in AI technologies.
source: ft.com
Sources from the newspaper indicate that the Crown Prince now envisions the project as being "much smaller," showing that the government recognizes the shortcomings of the original ambitious vision, the communication strategy, and the initial construction phase, according to the FT.
Launched in 2017, the project originally planned to establish Neom along the Red Sea coast, covering an area about the size of Belgium, and transform it into a free economic zone.
Following this, Saudi Arabia announced several projects within Neom, including the development of the futuristic city The Line, the Trojena ski resort, which was planned to host the 2029 Asian Winter Games, and a coastal logistics and industrial zone known as Oxagon.
On January 24, the Saudi government announced that the Trojena project would be downsized and would not be able to host the Winter Games as originally planned. Construction of The Line would also be significantly reduced.
According to FT sources, Neom might evolve into a data center hub, aligning with Saudi Arabia's broader objective of becoming a global leader in AI technologies.
source: ft.com