June 24th 2024.
In recent news, the ambitious project of Neom, a futuristic urban area in Saudi Arabia, has been facing some challenges. The development of this new urban area, which is part of the country's efforts to reduce its dependency on oil, has been put into question due to funding issues. Neom, which spans 10,200 square miles and is powered entirely by renewable energy sources, was expected to feature The Line as its most prominent feature, along with a floating industrial complex, global trade hub, and tourist resorts.
However, critics have raised doubts about the feasibility of the project, with some even questioning its ambitious goals. Originally, parts of the project were scheduled to be completed by 2020, but the deadline was extended to 2025. Yet, it has faced further delays due to the impact of low oil prices on the government's revenues. As a result, the government has been forced to seek alternative funding methods, and an adviser who preferred to remain anonymous has revealed that a decision on the project's future is expected soon.
According to the adviser, the decision will be based on various factors, but it is certain that there will be a reevaluation of the project. While some aspects will continue as planned, others may face delays or be scaled down. Currently, the project is funded by the government's sovereign grant through the Public Investment Fund. However, with its estimated cost of £394 billion, Neom's budget is twice the amount of the country's federal budget for the year. The entire project is expected to cost up to £1.5 trillion, adding to the government's financial struggles.
One of the main features of Neom, The Line, was initially designed to house nine million people and stretch for 105 miles. The project promised a utopian lifestyle with amenities such as robot maids, flying taxis, and waterfalls. However, it is now uncertain how much of this vision will be realized as the project's plans have been scaled back. The first phase of The Line is now expected to extend only 1.5 miles by 2030. Other plans for Neom include an octagon-shaped floating industrial city and a ski resort that is set to host the Asian Winter Games 2029.
Despite the project's grand ambitions, it has also faced criticism for its human rights and environmental violations. Members of the local Howeitat tribe have been protesting the forced expulsion of around 20,000 people from the area to make way for development. Some have even been killed by Saudi security forces for resisting eviction, including Abdul Rahim al-Huwaiti and three others who were sentenced to death. This has led to further scrutiny and criticism of the Neom project.
Ali Shihabi, a member of Neom's advisory board, has acknowledged that the project's targets were designed to be overambitious. As the reality of the project sets in with scaled-back plans, it is clear that Neom's utopian vision will come at a high cost. The government is faced with the challenge of balancing its financial struggles while trying to push forward with its ambitious plans for Neom. Only time will tell how the project will unfold and what changes will be made to bring it to fruition.
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