RIYADH, 25 May. - (ANA) - The Saudi Gigantic project NEOM has delayed further work on The Line — the planned 170-kilometer (105-mile) long dual skyscraper once projected to cost more than $1 trillion — until after 2030, as the kingdom’s sovereign wealth fund shifts spending toward developing infrastructure like ports and data centers.

 

NEOM — the company chaired by Crown Prince Mohammed bin Salman which is developing the northwest corner of Saudi Arabia — has also postponed plans to develop tourism destinations along the Red Sea coast until after 2030, according to people familiar with the matter. Trojena, the mountain ski resort which until recently had been due to host the next Asian Winter Games, will not receive new investment until after that date either, the people said. NEOM didn’t respond to requests for comment.

 

Postponing development of one of the kingdom’s most iconic projects is the latest sign that Saudi Arabia is taking a more pragmatic view of its ambitions. Widening budget deficits, lower-than-expected foreign investment, and questions about the feasibility of some projects had forced authorities to reassess priorities even before the Iran war hit economic confidence.  - (ANA) - 

 

AB/ANA/25 May 2026 - - -