Saudi Arabia’s Mirror Line skyscraper city faces financial turmoil as costs reach $8.8 trillion, 25 times the annual budget. An auditor’s report suggests attempts to hide rising costs. Initial designs have been significantly scaled back, raising feasibility concerns amidst Crown Prince’s commitment to the grand vision.
Saudi Arabia’s proposal to build the Mirror Line skyscraper city is encountering severe financial difficulties due to skyrocketing project costs. As reported by Azernews, the estimated expenditures have surged to $8.8 trillion, which is an astonishing 25 times the nation’s annual budget. This financial strain raises questions about the feasibility of the project, originally scheduled for completion around 2080.
An auditor’s report has uncovered attempts by officials to manipulate figures to downplay the rapid increase in costs. The design of the skyscraper, initially planned to stretch 160 kilometers, has already faced significant revisions; the first section’s intended length has been drastically reduced from 16 kilometers to merely 2.4 kilometers, slated for completion by 2034.
Crown Prince and Prime Minister Mohammed bin Salman Al Saud continues to oppose proposals to lower the skyscraper’s height to cut expenses, standing firmly in support of the project’s grand vision. The Mirror Line is integral to the larger Neom project, which aims to establish a futuristic eco-city that serves as a hub for innovation and tourism.
Despite the ambitious scope, including plans for floating cities and sustainable infrastructure, skepticism remains due to the monumental cost and technical obstacles. The project’s viability is crucial as it aligns with Saudi Arabia’s aspirations to diversify its economy away from oil dependency, yet increasing scrutiny regarding its financial and environmental impact cannot be overlooked.
In summary, Saudi Arabia’s Mirror Line skyscraper city project faces exorbitant costs estimated at $8.8 trillion, raising doubts about its execution. Significant budget manipulation allegations and decreasing project dimensions emphasize the challenges ahead. While the project’s ambition reflects a vision for economic diversification, it is surrounded by financial, environmental, and feasibility concerns that may hinder its success.
Original Source: www.azernews.az
