Sunday, March 9, 2025

Saudi Arabia's Neom Project - More Fantasy than Reality?

What Went Wrong at Saudi Arabia’s Futuristic Desert Metropolis
https://www.wsj.com/finance/saudi-arabia-neom-sindalah-15b9f25a
Neom executives shielded Crown Prince Mohammed bin Salman from the challenges of his fantastical plans, including by engaging in ​”deliberate manipulation” of financials, an internal report​ ​found.  

World’s Biggest Construction Project Gets a Reality Check
https://www.wsj.com/world/middle-east/saudi-arabia-neom-line-construction-99b3f54f
Saudi Arabia’s plans for twin 100-mile-long skyscrapers have lost momentum amid spiraling costs and construction glitches. 

Megaprojects in the Desert Sap Saudi Arabia’s Cash
https://www.wsj.com/world/middle-east/megaprojects-in-the-desert-sap-saudi-arabias-cash-45478ce5
To fill gaps, the kingdom has turned to borrowing, and it plans another sale of stock in Saudi Aramco 

MBS’s $500 Billion Desert Dream Just Keeps Getting Weirder
https://www.bloomberg.com/features/2022-mbs-neom-saudi-arabia/
Neom, the Saudi crown prince’s urban megaproject, is supposed to have a ski resort, swim lanes for commuters, and “smart” everything. It’s going great—for the consultants.