Feb 13

Feb 13 What specific projects under Saudi Vision 2030 have been scaled back or abandoned

Middle East politics , Middle East practices , middle east politics, saudi arabia economy , kingdom of saudi arabia

Several major projects under Saudi Vision 2030 have been scaled back or reassessed. Here are the specific projects and the key factual reasons behind these changes:

The Line (Part of NEOM)

Scaled back

Original plan: 170 kilometers long, housing 9 million people

Current status: Only 2.4 kilometers expected to be completed soon

Population projections reduced from 1.5 million to fewer than 300,000 by 2030

Reasons

Technical challenges in constructing a linear city

High costs associated with the ambitious design

Concerns about environmental impact and feasibility

NEOM

Scaled back

Initially valued at $1.5 trillion

Reports indicate 70% of plans for this urban area have been abandoned

Significant reduction in workforce, with mass layoffs of foreign workers

Reasons

Overambitious initial plans

Financial constraints due to fluctuating oil prices

Challenges in attracting foreign investment and expertise

Other Giga Projects

Reassessed

Several of the 13 other significant construction ventures are being reevaluated

Projects valued at trillions of dollars may face delays or modifications

Reasons

Budget constraints due to lower oil revenues

Projected budget deficit of $26.88 billion for 2025

Challenges in raising capital and limited cash reserves

Qiddiya Entertainment City

Delayed

Opening pushed back from 2023 to 2026

Some attractions and facilities may be scaled down

Reasons

Construction delays due to the COVID-19 pandemic

Reassessment of project scope and financial viability

Red Sea Project

Modified

Initial plans for 50 hotels by 2030 may be reduced

Focus shifted to more sustainable and eco-friendly development

Reasons

Environmental concerns and need for sustainable tourism

Balancing development with conservation efforts

Conclusion

Despite these setbacks, some aspects of Vision 2030 continue to progress, such as renewable energy initiatives and efforts to diversify the economy. The Saudi government remains committed to the overall vision but is adapting its approach to align with financial and logistical realities.

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