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Amid Economic Challenges And Revised Goals, The Saudi Government Hires Consultants To Analyze The Future Of Its $1.5 Trillion Project.
The Kingdom of Saudi Arabia has initiated a review process for its most ambitious project, the futuristic city of The Line. Consultants have been hired to assess the feasibility of the original plan. The measure seeks to adjust the monumental construction to the current economic challenges of the country.
What Is The Ambitious Project The Line?
The Line is a linear city project measuring 170 kilometers in length. It is being built in the middle of the Saudi desert. The proposal is part of a larger plan, called Neom, with a total estimated cost of $1.5 trillion. The goal was to create a revolutionary urban center, car-free and with zero carbon emissions.
Reduced Goals And Extended Deadlines
Recently, expectations for the project have been drastically reduced. The initial goal was to house 1.5 million residents by 2030. Now, that number has been adjusted to less than 300,000 people within the same timeframe. Additionally, of the 170 kilometers planned, it is expected that only 2.4 kilometers will be completed by 2030.
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The Entry Of Consultants And The Economic Scenario Of Saudi Arabia
The decision to reassess the project comes at a delicate moment. The Kingdom of Saudi Arabia is facing challenges such as the drop in oil prices and lower-than-expected foreign investment. The promoters of Neom claim that the review is a normal procedure for projects of this scale. Nevertheless, the hiring of consultants indicates a search for greater security in the investment.
Between Reality And Ambition
Despite the reduction in expectations, construction continues. The Saudi government is releasing images to showcase progress, such as the construction of transportation tunnels. Giles Pendleton, the director of operations, reaffirmed that “Neom is real”. The message is that, although initial optimism has decreased, the project will not be abandoned, but rather adjusted to reality.
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