{"id":87803,"date":"2024-07-14T00:00:00","date_gmt":"2024-07-14T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/07\/14\/is-a-recalibration-of-gigaprojects-in-the-works\/"},"modified":"2024-07-14T00:00:00","modified_gmt":"2024-07-14T00:00:00","slug":"is-a-recalibration-of-gigaprojects-in-the-works","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/07\/14\/is-a-recalibration-of-gigaprojects-in-the-works\/","title":{"rendered":"Is a recalibration of gigaprojects in the works?"},"content":{"rendered":"

No single story is dominating coverage of Saudi in foreign press<\/strong>, but Bloomberg<\/a> is out with a piece suggesting a government committee led by Crown Prince and Prime Minister Mohammed bin Salman is wrapping up a review of mega projects such as Neom, which could see its budget for this year getting a 20% trim. Bloomberg\u2019s reporting relies on unnamed sources. The business information service said plans for downsizing were not concrete and were subject to further changes at any time.<\/p>\n

REMEMBER- <\/strong>Officials have lately hammered<\/a> the idea of preventing the economy from overheating on the back of its economic diversification push. Some have taken to calling gigaprojects modular<\/a> and Neom has gone on a drive to underscore to contractors<\/a> and bankers<\/a> that everything is on track after reports suggesting a slower buildout earlier this year.<\/p>\n

A sign of maturity: <\/strong>The \u201crightsizing\u201d of projects show a sign of maturity by the Kingdom, Goldman Sachs Mena economist Farouk Soussa said. \u201cWhat they\u2019re doing in terms of adjusting these projects gives us a lot of comfort,\u201d Soussa said. \u201cThey\u2019re basically saying they\u2019re not going to go for broke or bet the house on any one particular thing. If it\u2019s possible, they\u2019ll do it. If not, they won\u2019t. They\u2019re being quite sensible.\u201d<\/p>\n

Meanwhile, the <\/strong>New York Times<\/a><\/strong> is the latest to look into Saudi\u2019s gaming scene<\/strong>, describing the inaugural Esports World Cup in Riyadh as a \u201ccoming-out party for Saudi Arabia\u2019s growing video game industry.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Plus: NYT dives into Esports World Cup in Riyadh<\/p>\n","protected":false},"author":1,"featured_media":87804,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2561],"tags":[10,2869,471,100,229],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-87803","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-saudi-in-the-news","tag-enterpriseam-ksa","tag-esports-world-cup","tag-megaprojects","tag-neom","tag-saudi-in-the-news","wpautop","entry"],"acf":{"mongo_id":"c9cd5ef0-b152-4d03-b4bc-150d17bc68d0","order":"7","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/7\/961.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Is Saudi looking to recalibrate some of its gigaprojects?","related_issue":[87790],"teaser":"Plus: NYT dives into Esports World Cup in Riyadh","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.2202cd37-c10a-44bc-bbcf-4c57fbfe3a70.mp3"},"yoast_head":"\nIs a recalibration of gigaprojects in the works? 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