All articles tagged with #neom
Originally Published 2 months ago — by Futurism
Saudi Arabia's ambitious 100-mile skyscraper project, The Line, part of the Neom city, has faced significant setbacks with construction delays, reduced scope, and withdrawal of foreign investments, raising doubts about its future viability despite official claims of progress.
Originally Published 2 months ago — by TipRanks
Saudi Arabia is shifting its focus from the Neom city project to AI and high-tech investments, backing a new company called HUMAIN with plans to invest $10 billion in startups globally and signing deals with major tech firms like Nvidia and Amazon, as part of a broader strategy to diversify its economy away from oil reliance amid falling oil prices.
Originally Published 5 months ago — by Semafor
Saudi Arabia's NEOM project is considering job cuts and relocations due to rising costs and project delays, with a focus on consolidating staff in Riyadh and reviewing progress on key developments like The Line and Oxagon.
Originally Published 6 months ago — by Middle East Eye
Saudi Arabia has asked consultants to review the feasibility of 'The Line', a key part of the Neom megaproject, amid scaling back plans due to rising costs and falling oil prices. The ambitious, car-free city was initially envisioned to host one million residents and contribute significantly to the economy, but recent reports suggest a reduction in scope and population targets, reflecting financial and internal challenges. The project remains a symbol of Saudi Arabia's Vision 2030 to diversify its economy.
Originally Published 1 year ago — by Semafor
Nadhmi al-Nasr, the CEO of Saudi Arabia's ambitious Neom megacity project, has unexpectedly left his position, marking a significant disruption for the world's largest construction endeavor. Neom, a key part of Saudi Arabia's strategy to diversify its economy and boost tourism, has faced numerous challenges, including budget issues, delays, and worker safety concerns. The announcement of al-Nasr's departure coincided with Neom's selection of architects for its prominent feature, a pair of 105-mile-wide parallel skyscrapers.
Originally Published 1 year ago — by Gizmodo
Neom, Saudi Arabia's ambitious $500 billion urban development project, has lost its CEO, Nadhmi al-Nasr, reportedly due to missed construction deadlines. The project, envisioned by Crown Prince Mohammed bin Salman, aims to create a futuristic city with features like robot dinosaurs and flying cars. However, it faces significant challenges, including high costs, construction delays, and reports of harsh working conditions leading to numerous worker deaths. The Saudi Public Investment Fund is now overseeing the project, which critics estimate could cost up to $2 trillion.
Originally Published 1 year ago — by Business Insider
Nadhmi al-Nasr has stepped down as CEO of Saudi Arabia's Neom project after six years, with Aiman Al-Mudaifer named as acting CEO. The leadership change is intended to enhance operational efficiency as Neom enters a new phase. The megacity, part of Saudi Arabia's Vision 2030 to diversify its economy, has faced challenges including financial issues, construction delays, and human rights concerns. The project's ambitious plans, such as The Line, have been scaled back, and internal conflicts have been reported.
Originally Published 1 year ago — by indy100
Saudi Arabia's ambitious urban desert city project, The Line, part of the larger Neom development, is scaling back its plans, with only 2.4 kilometers expected to be completed by 2030 instead of the originally envisioned 170 kilometers. The project, intended to accommodate 9 million people, is facing delays and budget concerns, leading to the dismissal of some workers on site. Neom, aimed at transforming Saudi Arabia's economy, includes plans for an industrial city, ports, and tourism developments, with concerns arising at the highest levels of the Saudi government over the trillions of dollars of investment.
Originally Published 1 year ago — by Business Insider
Saudi Arabia's Neom project, a key component of Crown Prince Mohammed bin Salman's Vision 2030 plan, is facing financial concerns as the kingdom's sovereign wealth fund has yet to approve Neom's budget for 2024. The trillion-dollar investments in Vision 2030, particularly Neom, have raised alarms within the government, leading to delays and pullbacks in some projects. Ethical concerns have also been raised about the megacity, including worries about surveillance and strict rules around criticizing the project.
Originally Published 1 year ago — by Supercar Blondie
Saudi Arabia's Neom giga-project in the northwest will encompass 10 distinct developments, including The Line, Oxagon, Trojena, Sindalah, Leyja, Epicon, Siranna, Utamo, Norlana, and Aquellum, each featuring unique and luxurious amenities such as floating port cities, ski resorts, luxury hotels, and immersive event spaces. The project aims to redefine urban living and tourism with innovative designs and futuristic concepts, showcasing a clear vision for the future of the region.
Originally Published 1 year ago — by Dezeen
Aerial photos shared by The Line's chief operating officer Giles Pendleton on LinkedIn reveal construction progress on The Line megacity, Oxagon port, and Sindalah resort in Neom, Saudi Arabia. The images show excavations for The Line, advanced construction at the Sindalah resort, and preparation works at Oxagon. Neom, one of the world's largest and most controversial developments, has faced criticism on human rights grounds, but the project continues to move forward.
Originally Published 1 year ago — by Supercar Blondie
Saudi Arabia's $1 trillion giga-project, The Line, is progressing rapidly, with new aerial footage showcasing its massive scale. The 105-mile-long, 500-meter-high, and 200-meter-wide structure is part of the NEOM project and aims to accommodate up to nine million residents with residential, commercial, and recreational facilities. The ambitious endeavor also includes plans for a smart city, mountain resort, water and hydrogen company, an upside-down skyscraper, and a cube-shaped city, making it one of the largest man-made structures in the world.
Originally Published 2 years ago — by Hollywood Reporter
Neom, a growing production and creative hub in Saudi Arabia, aims to attract international stars and productions with its state-of-the-art facilities, competitive incentives, and unique natural beauty. With the largest soundstages in the country and plans to expand its accommodation units, Neom offers a futuristic and sustainable environment for various sectors, including entertainment, culture, media, sport, and technology. The hub has already attracted 35 productions, including documentaries, TV shows, feature films, and reality television, and aims to become an integrated media hub with a million square meters footprint and 50 soundstages, supporting the growth of talent and fostering creativity in Saudi Arabia.
Originally Published 2 years ago — by Middle East Eye
Saudi Crown Prince Mohammed bin Salman has defended the Neom megaproject, claiming it will "compete with Miami" and prove critics wrong. The $500 billion prospective megacity, which is 33 times the size of New York City, has faced skepticism since its announcement in 2017. The project includes a 170km straight-line city known as "The Line," which is currently under construction. Bin Salman believes Neom will make money, meet the demands of a growing population, and revolutionize city planning. The city will have no cars or roads and aims to be a "piece of art." However, the project has faced criticism for alleged human rights abuses and forced displacement of the Howeitat tribe.
Originally Published 2 years ago — by Yahoo News
Saudi Arabia has released new images of its $1tn Neom megacity, which is being built in the northwest of the country. The city is being billed as a tourism attraction and global hub for technology and innovation, and will run entirely on renewable energy. However, human-rights groups have raised concerns about the city's plans for mass surveillance, and the UN has accused Saudi Arabian officials of evicting a tribe from the area without adequate compensation. Critics also believe that the scale and ambition of the project mean it may never be fully realised.