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