Saudi Arabia's Neom Project Faces Major Scale-Back

The ambitious 'The Line' development now aims to house 300,000 people by 2030, down from 1.5 million, amid challenges in attracting investment and reliance on oil prices.

• Saudi Arabia scales back its ambitious Neom project, reducing the expected population of 'The Line' from 1.5 million to 300,000 by 2030.
• The Saudi government's struggle to attract foreign investment and the nation's reliance on oil prices are major factors in the project's downsizing.
• 'The Line' is part of Crown Prince Mohammed bin Salman's Vision 2030, aimed at diversifying Saudi Arabia's economy and reducing its oil dependency.
• Concerns over privacy and human rights issues, as well as the feasibility of the project, have deterred Western firms from investing.
• Despite setbacks, the Saudi government remains committed to the Neom project, with other developments like Sindalah and green hydrogen projects progressing.

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