Keep pulling the thread on Palki Sharma.
The Mukab skyscraper project in Riyadh, a $50 billion downtown district initiative, has reportedly been shelved due to concerns about its financial viability and potential returns.
Saudi Arabia's NEOM mega-project is reportedly being dramatically scaled back from its original plans.
The Line, a project within NEOM originally planned as a 170-kilometer-long city, is being redesigned to be significantly smaller.
The completion timeline for The Line project has reportedly been pushed back from its original 2030 target to potentially 2040 or later.
According to economists, Saudi Arabia requires an oil price of approximately $100 per barrel to balance its national budget.
Saudi Arabia's Public Investment Fund (PIF) controls approximately $1 trillion in assets.
A large portion of the Public Investment Fund's assets are illiquid, locked into long-term projects and hard-to-sell ventures that are not yet generating cash.
According to reports, Saudi Arabia's Public Investment Fund has less free cash available for new mega-projects than it did previously.
The NEOM project in Saudi Arabia is being strategically refocused towards the development of data centers and AI infrastructure.
Saudi Arabia is shifting its investment focus to initiatives that promise immediate returns, such as hosting Expo 2030 and the 2034 World Cup, and funding housing and transport programs.
The government of Saudi Arabia is asking the country's wealthiest families to increase their domestic investments to help fund its projects.
Oil revenue constitutes more than 60% of the Saudi Arabian government's total revenue.