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Dubai, the United Arab Emirates – Sovereign Wealth Fund of Saudi Arabia, re-evaluates a $ 500 billion futuristic city called the flagship line.
The State Investment Fund, 105 miles in Neom, held consulting firms to make strategic opinions for the expediency of the city.
Neom, for the first time, confirmed the news reported by Bloomberg, strategic checks reported “general experience” in long-term megapreter.
However, the action is a global investigation into the agenda of the ambitious infrastructure of Saudi Arabia, as well as the growing pressure on public finance.
Neom, not explaining what the investigation is directed, “Tim Callen is likely to be economically economically, financing and economic,” he said, a member of the Arab Gulf organization.
“I think that this is all the areas of people in the past; The value of the work that Neom wants to do is become a matter of the last few years,” said Callen’s CNBC went to the Middle East on Friday.
The site’s website in the North-Western desert of Saudi Arabia is currently a construction area of sprawling by cranes and pile drivers and a recently established road. Long parallel marks, planners were cut off the sand, which will be a high-speed railway system of the spine.
Saudi Arabia’s Neom, Construction for Line Project in October 2024
Giles Pendleton, Neom
The two bottles were designed to be a high-tech city of sandwiches, more than 1,600 feet, the Saudi government will eventually give the house of 9 million people.
The project is one of the hyper-futuristic spaces planned in the brain of Saudi Arabia, Saudi crown Prince Mohammed Bin Salma, Neoma, Neom.
This is the 2030s aimed at raising the Saudi economy from oil revenues and create new jobs and industries for the young population.
The value of Neom as a whole has been Estimated to be up to $ 1.5 trillion. 2024 after an unlimited spending in the long years, began to see a sharp change Saudi budget deficit grew The price of a barrel of oil fell to the bottom of which the Kingdom budget should be balanced.
“As you pre-say, the price of oil, in 2022, in 2022, in 2022, it is a very different environment,” this is a very different environment, “he said. International price Brent is Crude He traded at 2:15 a barrel on Friday at 2:15 to $ 70.15 per barrel.
“Many of these projects need to be re-evaluated, Neo should not take place? No, Neom will continue in some form and I think it has been in a less form.”
‘Yes man’ mindset
There was also a number of criticism described as the “Yes Man” mentality, which provides high optimistic forecast and profitability forecasts to stay in favor of the employers of the employers of Neom.
According to the CNBC, Tarik Suleyman Tarik Suleyman, Tarik Suleyman Tarik Suleyman in Saudi Arabia Saudi Arabia Saudi Sulayman Tarik Solomon is information.
“To succeed for a scale project, it must adapt to the market and build confidence.”
Solomon Neom and the line “actually praised one of the most courageous ideas I started.”
With the planned “evaluation” of the line, it is planned to work throughout the neo as a whole, a consultant who works for the project told CNBC.
“Finally, they will begin to make a financially healthy decision,” the consultant who wanted to remain anonymous due to restrictions in speaking to the press.
Neom did not respond immediately to a CNBC request for comment.
