Satellite images reveal a lavish palace being constructed as part of Saudi Arabia’s $2 trillion Neom project. The complex, likely belonging to Crown Prince Mohammed bin Salman, features extensive amenities. Despite significant investment, challenges in attracting foreign investors linger as the project seeks to transition the economy towards technology and tourism.
Recent satellite imagery reveals a magnificent palace complex under construction as part of Saudi Arabia’s expansive $2 trillion Neom megacity initiative. Captured in January by Maxar Technologies and presented in a Business Insider documentary, the imagery shows a vast palace situated along the Red Sea coastline, replete with private beaches, lush gardens, a golf course, and ten helipads.
Identified as likely belonging to Crown Prince Mohammed bin Salman, this palace is backed by public sources, including a 2018 report from Reuters. The palace is part of an ambitious blueprint that also calls for five royal palaces, with designs featuring opulent Moroccan-style architecture and additional facilities such as a marina and golf course, consistent with the satellite observations.
Neom represents a pivotal component of Crown Prince Mohammed’s strategy to diversify the Saudi economy, progressing from reliance on fossil fuels towards innovation and tourism. The Business Insider documentary emphasizes Neom’s signature project, a 110-mile-long vertical city known as the Line, which has faced scrutiny regarding its environmental impact and human rights implications. While the entire Line was initially scheduled for completion by 2030, it now appears that only a 1.5-mile “Hidden Marina” will be ready by that deadline.
The Crown Prince’s portfolio of assets includes luxurious properties such as a $300 million château in France and a $400 million superyacht, highlighting his wealth. Despite significant investments derived from oil revenues into the Neom initiative, reports indicate challenges in securing sufficient foreign investment to meet its ambitious development timeline. Neom did not provide a response to inquiries from Business Insider regarding these developments.
In summary, the Neom project, alongside the luxurious palace complex likely belonging to Crown Prince Mohammed bin Salman, exemplifies Saudi Arabia’s ambitious efforts to shift its economic focus. Despite significant investments, challenges in attracting foreign capital persist, affecting the project timeline. The satellite imagery underscores the grand scale of Neom, while ongoing discussions about its design and human rights remain critical.
Original Source: www.businessinsider.com
