Saudi Arabia's massive Neom megaproject, a multi-trillion dollar plan to develop a swathe of land the size of Massachusetts, has replaced its CEO in a significant reshuffling as the kingdom faces questions over the economic viability of its ambitions.
"As NEOM enters a new phase of delivery, this new leadership will ensure operational continuity, agility and efficiency to match the overall vision and objectives of the project," a Neom statement said.
The projects have faced skepticism and criticism from environmentalists and engineers in other parts of the world.
Neom's leadership reshuffle comes at a period of changing financial pressures on the kingdom, as oil prices and demand forecasts remain subdued, and Saudi Arabia's budget deficit widens.
Budgets are facing cutbacks and projects are seeing delays, three people with knowledge of the matter told CNBC, speaking anonymously due to lack of authorization to speak to the press.
Persons:
Neom's, Aiman, Nadhmi Al, Nasr, NEOM, Saudi Crown Prince Mohammed bin Salman
Organizations:
Saudi Crown, Games, Saudi, CNBC
Locations:
Saudi, Massachusetts, Al