As the titans of global finance head to Riyadh for this year’s Future Investment Initiative summit, the kingdom is pivoting away from what would have been one of the world’s biggest construction projects.
Instead, it’s preparing to pour billions more into areas like artificial intelligence, gaming and high-tech manufacturing as it races to diversify its oil-reliant economy, people familiar with the matter said.
New contracts for Neom have been drying up and the project received no mention in the country’s pre-budget statement for 2026 after being featured for three straight years.
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