The Saudi Arabian government has invested heavily in its Neom project, a futuristic city designed to be carbon-neutral. However, a recent report by the Wall Street Journal suggests that the project is plagued by significant delays and cost overruns.The financial implications of such a massive undertaking are staggering, with the country already spending $50 billion on the project. The WSJ reports that construction could take an additional 55 years, raising serious concerns about the viability of the project.The situation raises questions about the responsible management of public funds and the potential consequences for taxpayers. It also highlights the challenges of delivering large-scale, complex projects on time and within budget.
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A new WSJ report suggests that Saudi Arabia’s now eight-year-old Neom project — a futuristic, carbon-neutral, 105-mile-long linear city envisioned by Crown Prince Mohammed bin Salman — has become a financial sinkhole. Plagued by delays and cost overruns, the country, which has already shelled out $50 billion, could reportedly face another 55 years of construction, […]
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