Bloomberg: Saudi Arabia is reevaluating the NEOM project. The project was initially announced to be a future city preparing to accommodate 1.5 million residents by 2030.
Projections now indicate that fewer than 300,000 people may live in the expected city in the same time frame. This significant downsizing has reverberated throughout the project, prompting at least one contractor so far to begin laying off workers it employs on site. Delays are looming in many projects related to NEOM, prompting Finance Minister Mohammed Al-Jadaan to hint that a longer period is needed “to build factories and build sufficient human resources.