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Neom is reportedly turning into a financial disaster, except for McKinsey & Co.

Source: techcrunch.com | By Connie Loizos

Published on: 2025-06-26 12:34:22

In Brief 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, with an astonishing projected cost of $8.8 trillion, according to an internal audit presented to Neom’s board last summer.

Keywords: arabia cost mckinsey project saudi

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The Nabataeans Are Coming

Source: news.ycombinator.com | By Unknown

Published on: 2025-07-04 01:50:15

The volte face has been astonishing. Until 2017, or thereabouts, the Kingdom of Saudi Arabia was seen as the hallmark of Islamic puritanism, where compulsorily veiled women were forbidden to travel without their male guardian’s permission, shops closed during prayer time, and the ‘religious police’ brandished canes to marshal the faithful into mosques. Pre-Islamic history was the ‘time of ignorance’ (‘jahiliyya’) and tourism, when allowed, was restricted to small groups of well-paid foreign busi

Keywords: arabia kingdom madain saleh saudi

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