Saudi government to allocate $16bn to scrap sections of Neom megacity, report says

A report says the Saudi government has earmarked funds for changes to the Neom project. Officials plan to allocate $16 billion to cancel certain components of the planned megacity. The spending targets sections of Neom that have been deemed unnecessary or unviable. The decision reflects a shift in the government's approach to the ambitious development. Cancelled parts will free resources for other priorities within the kingdom. The move underscores financial scrutiny of large‑scale projects. Analysts note the potential impact on investors and contractors involved. The government has not detailed a timeline for the cancellations.