According to Bloomberg, Saudi Arabia’s NEOM billion-dollar megacity project is reportedly undergoing downsizing, with estimates for its population by 2030 significantly reduced.
The mega project became a cornerstone of Crown Prince Mohammed bin Salman’s Vision 2030 with expectations to accommodate more than 1.5 million residents.
“The Line” – a futuristic city within NEOM – is now projected to house fewer than 300,000 people by 2030, per Bloomberg’s sources.
The NEOM Project
The ambitious linear city, spanning 170 kilometers, will only see completion of 2.4 kilometers by 2030, signaling a significant scaling back of the project’s scope.
NEOM, a $500 billion initiative covering 26,500 square kilometers, aims to diversify Saudi Arabia’s economy from oil to tech and innovation.
Its planned features include glow-in-the-dark beaches, ski slopes, an artificial moon, and flying taxis.
Finance Minister Mohammed Al Jadaan said in December that the delay or extension of some projects would be better for the economy, but experts believe otherwise.
