Saudi Arabia Scales Back $1.5 Trillion Megacity Neom Due to Financial Constraints

• Saudi Arabia has scaled back plans for Neom, its $1.5 trillion desert megacity project, due to financial realities • By 2030, officials now expect just 300,000 residents in The Line instead of the originally hoped for 1.5 million • Only 2.4 km of The Line is expected to be built by 2030, much less than the planned 170 km length • At least one contractor has started dismissing workers at the Neom site • The scalebacks show concerns over the trillions in investment needed for Saudi Arabia's Vision 2030 diversification program