Satellite imagery reveals the construction of a luxurious palace complex for Saudi ruler Mohammed bin Salman as part of the Neom megacity project. The palace features private beaches, gardens, and ten helipads and aligns with plans for royal residences in the area. Despite ambitious goals for the Neom project, attracting foreign investment remains a significant challenge.
Recent satellite images acquired by Business Insider reveal an opulent palace complex being constructed as part of Saudi Arabia’s ambitious $2 trillion Neom megacity initiative. This extensive palace is situated along the Red Sea coast in the northeastern region of the country and is believed to serve Saudi Arabian ruler Mohammed bin Salman. The images depict lavish features including private beaches, sprawling gardens, a golf course, and a remarkable ten helipads.
The satellite imagery, captured by Maxar Technologies in January, correlates with previously reported plans for a series of royal palaces in the vicinity, indicating that this complex was among the initial projects associated with Neom. The identified architectural style and luxury amenities align closely with a 2018 Reuters report detailing the features of the palace, which include Moroccan-style constructions, a marina, and extensive recreational facilities.
Neom is intended to serve as the central element of Crown Prince Mohammed’s strategy to diversify the Saudi economy beyond its reliance on fossil fuels, with an emphasis on advancing technology, innovation, and tourism. However, the documentary indicates that while the project aims for remarkable developments such as the 110-mile-long “vertical city” known as the Line, it faces scrutiny regarding its design, environmental impact, and human rights issues. Currently, only a small segment of the project, referred to as the “Hidden Marina,” is projected to be completed by the previously intended 2030 timeline.
In recent years, Crown Prince Mohammed has amassed a variety of lavish properties, which include a $300 million estate in France and a $400 million superyacht. Despite Saudi Arabia’s significant investment of its oil revenues into the Neom project, reports suggest that attracting sufficient foreign investment to keep pace with its ambitious growth targets has been a challenge. Neom has yet to respond to inquiries from Business Insider regarding these developments.
The satellite images showcasing the extravagant palace complex within the Neom project underscore Saudi Arabia’s intentions to redefine its economy through significant investment in luxury developments. However, while the Neom initiative aims to secure a sustainable future, it grapples with both financial challenges in attracting foreign investment and pressing concerns about environmental and human rights standards. The progress of these projects will be closely monitored in the coming years as the completion dates approach.
Original Source: www.businessinsider.com
