Saudi Arabia's futuristic megaprojects are so expensive that even its oil riches may not be enough

Tue, 02/20/2024 - 08:54

A conceptual image of the planned design for The Line in Saudi Arabia's Neom, shows a large mirrored facade extending out into the water from the desert. — A rendering of The Line, one of the Neom megaprojects.
Neom

Saudi Arabia has started borrowing to fund megaprojects including Neom, The Wall Street Journal reported.
The kingdom is spending vast amounts of money to diversify its economy.
Some Saudi projects could be scaled back or delayed due to funding issues, one commentator said.

Saudi Arabia is borrowing to help fund an array of ambitious projects including the $500 billion Neom desert megacity, The Wall Street Journal reported.