The Neom project, which Saudi Arabia announced with a great vision eight years ago, does not progress as expected. According to the new report of Wall Street Journal (WSJ), the Neom project, which is defined by Crown Prince Mohammed bin Salman as the city of the future and is planned to work with zero carbon emissions and is planned to work with zero carbon emissions, has literally turned into a financial swamp from a linear city bar called a 170 -kilometer line City bar.

You need 8.8 trillion dollars

Saudi Arabia, which has spent 50 billion dollars for the world’s largest construction project, may have to continue its construction process for the next 55 years, according to internal audit reports. The total cost of the project is expected to reach 8.8 trillion dollars. This figure is 25 times the country’s annual budget! Neom is expected to spend $ 370 billion in order to complete the first stage by 2035.

Among the biggest challenges faced by Neom are the lack of work force, infrastructure deficiencies and problems in supplying electricity. The fact that the technologies required for the planned carbon neutral city are still not fully developed are among the factors that delay the project.

Despite the financial and logistics problems that Neom faces, there are also beneficiaries. According to the transfer, the global consulting company McKinsey & Company earns more than $ 130 million annually within the scope of the project. However, the fact that the firm is involved in planning and in the verification of some financial projections brings about the conflict of conflict. McKinsey said in a statement that there are strict protocols to prevent conflicts of interest.

Neom was announced as one of Saudi Arabia’s greatest economic and technological breakthrough attempts. But at this point, it is a big question mark that the project can stand. The huge budget, years of delays and an uncertain future will show whether Neom will indeed become an engineering wonder or a failure of billions of dollars. This will show us time, but satellite images show that construction work continues.

Sindalah has not yet opened

The Saudi authorities began to talk about Neom as an investment that would last for generations that would give their fruit in decades, and left the explanations that show him as an economic engine that would start in 2030. The country said that the vision 2030, which has long been an economic plan, was full of ambitious goals. On the other hand, other parts of the economic plan of the Crown Prince transformed the country. Millions of women joined the labor force. According to the International Monetary Fund, the private sector grew to contribute to almost half of Saudi Arabia’s gross domestic product, and smaller mega projects in Riyadh have made a faster and more visible progress.

Neom also includes The Line, as well as ski village, ski slope, health centers and a mountain facility with a mountain facility with nature conservation area and oxagon, oxagon, oxagon. Neom’s first stop, Sindalah, was opened in October. However, according to WSJ, the holiday village is not yet fully completed. People working in the holiday village say that restaurant employees read books to spend time without the guests they will serve. Golf field and hotels are not open to the public even four months after the opening ceremony.