Saudi Mega-project NEOM Chases Chinese Funds | Vantage with Palki Sharma
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- Опубліковано 22 кві 2024
- Saudi Mega-project NEOM Chases Chinese Funds | Vantage with Palki Sharma
First announced in 2017, NEOM is a futuristic Saudi megacity being built in the middle of the desert. It is a part of Crown Prince Mohammed bin Salman's bid to diversify the Gulf state's oil-dependent economy. But since its announcement, NEOM has raised eyebrows as architects, economists and investors have questioned its feasibility and costs. So, Riyadh is now courting investors from across the world. The roadshow for NEOM travelled from Beijing to Shanghai to Hong Kong, chasing Chinese funds, amid speculation about the scope of the project and its finances. But will it be enough for NEOM to take off? Palki Sharma tells you.
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Saudi Arabia | China | Neom Project | MBS | Crown Prince | "The Line" | Flagship City | Mohammed bin Salman | Firstpost | World News | News Live | Vantage | Palki Sharma | News
#saudiarabia #mbs #neomcity #thelinecity #megacity #firstpost #vantageonfirstpost #palkisharma #worldnews
Vantage is a ground-breaking news, opinions, and current affairs show from Firstpost. Catering to a global audience, Vantage covers the biggest news stories from a 360-degree perspective, giving viewers a chance to assess the impact of world events through a uniquely Indian lens.
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Running out of money? Have they started paying their workers or something?
😂😂😂
Damn bro 😂😂
😂
may be 1 year after work is complete. like most govts :)
😂😂😂😂 yes because they got white consultants from london so they had to pay their fathers
If Saudi Arabia is looking for funds then condition is serious
Condition is serious but project is a joke. Architects of this project seriously need to rethink about this.
once america starts drilling again ....saud will have no money once the barrel is under $50
@@teddymoon3744 America cannot survive with barrel under $50 per barrel. All the Energy Fracking Companies will close
@@teddymoon3744If anything I think they know that which is why they are looking for alternative forms of economic growth. They’ve also targeted professional sports and events.
@@StealthHalcon9but this project isnt tue alternative
Pie in the sky. It'll never be finished. It's money down the drain. This is what you get when egos are larger than pockets.
Wouldn't they even consider thinking that the outer wall will be like a giant wall of death ray 🤣🤣🤣🤣
Nobody wants to live in the longest prison in the world?😅
Size does not matter. Prison is Prison!
😂
😂😂
Norway:" we have a lot of money from oil, we will invest it and let our people live better."
Arabs: "spend like there is no tomorrow on useless and extravagant stuff"
Jealous 😂😂😂
@@Mark-gd2tiAs a Muslim from Indonesia I feel very ashamed of what rich Arab people are doing!
Now half of saudi will belong to china 😂😂😂
Don't worry, Modi will buy the other half for India.
@@nmew6926There is no need to buy desert we already have thar desert and rest World is trying its best to move away from petroleum
@@nmew6926😂😂😂
@@nmew6926Tell modi to buy deodorant and flushing toilets for indians first.
Not everyone has the ability, quality & qualification to get involved in mega project. For sure, China yes, a big YES. I think you know what I mean.
If oil money isn’t enough, I don’t see American or Chinese investors sinking their money in a project like this one
"A fool and his money are soon parted."
A slave must never comment on the work of his master. Lack whipping
America
@@jjustsayingwhatisee Endia too..
The only different that "money" for the Endian is just delusion..
Don’t cry
imagine when the ac system goes out
Imagine when ac system goes out in a building in desert ..same thing don't talk stupid ..neom city will have billions of trees also
@@drjitesh5418 Will the trees be enough to control the temperature for human existence 😂 ?
I imagine it will be quite stinky in there... with all the Arabs and their Indio servants
@@drjitesh5418 uhmm billions of tree uhmm you ok bro?
As a Chinese, I haven't felt the power cut for years, please don't worry about it, please take care of yourself first.
On the chinese economy side I don’t think china would be interested on funding such project as NEOM.
They will come up with their belt and road initiative there , Saudi have to put his oil fields on collateral for unsustainable Chinese Loans
@@Prashant_Pandey4 please check the chinese economies condition dear, their economy now is failing, belt and road is a failure
@@natsumidesu8019 failing 😂😂😂...
For sure there's a country not interested in this mega project coz no big 💰💰💰💰💰💰💰💰💰💰 to invest. I'm sure you know what I mean.
@@RoseRose-gk6ku yah I know what you mean, true
Neom - a target the Houthis can't miss. Where do I invest?
Sorry but Why he thinks people will go to live in Arabia?? And in a pipe 😂😂 and in 2050 when world will be quite innovative
Dubai is in Arabia
Even in 2050. No one wants to live in India.
You think people want to live in dirt poor India?
@@LH1xx they are certainly 700000 americans living in India. It's data from 2017. 4.9 million foreign-born residents in 2020
@@-rate6326 They are Indians who have American passports only LOL
This will be marked as the greatest blunder in the history 😂😂
Unsustainable. Don't waste money Saudi
Comparing to US who spent 2 Trillions in Afghanistan, it is nothing 😂.
Ie 2 000 billions= 2 Trillions
I think usa laying
It spent around 1 trillion dollars in Afghanistan.
And they were using their Home made weapons so money came back to them indirectly.
@@wionporky9937
@@wionporky9937
US can print $ as much as they can, and the rest of the world pays the final bill, including you.
@@wionporky9937Lol,87% of money go back to USA through their defense companies🤣 and rest to European countries
Fool just don't read headlines,read full news😊.
@@wionporky9937Lol,87% of money go back to USA through their defense companies🤣 and rest to European countries
Fool just don't read headlines,read full news😊
Oh Arabia how generous you have been to us Arabians from your sky came the revelation to mankind
From your ground came blessings of oil
Arabs also never left you Arabia struggling with your dry climate
And you never left us
For a land of so much pride can only deserve a People so proud
pride took ibless out of heaven.
@@PHANTOmIND8
Thats called arrogance!
Arrogance is like what you are doing now.
Pride is different , pride has no envy !
هناك فرق بين التكبّر والفخر
فبلا تكبّر ولا تحسد الناس
I thought Chinese economy is collapsing!! That's what this Indian lady and all western media said daily!
Soon she will be tired of talking bad about China nothing she said has been really last yr she said China economy is going down by unimaginable rate yet still nothing happened its an Indian mentality to talk bad about China hence they can't be near China in development China is not Pakistan only one nation China will have a point to think of is USA, India to date they have building toilets campaign how Can they even think to compete with China.
It seems to be.
They are experiencing deflation, and GDP growth. AKA, their currency is getting stronger, and the economy is getting bigger.
@@JamesWillis-yy5px looks like you believe the CCP data. 😜
@@rebeccaaldrich3396 Only if u follow Indian and westwern news. The reality is a bit different tho. China has purposefully popped some growing bubbles in their economy, put some strict regulation to put an end to many unsustainable things etc. That caused some turmoil, but that's a controlled descent, not a collapse like 2008 USA. And Chinese economy is actually recovering from that. And tho the period of massive rapid growth may never resume, China will probably maintain 4-5% annual growth. It's more like Chinese economy is in transition, nothing more.
Africans, South Americans and Asians must be invited in order to get a different approach promoting the Saudi Mega-project NEOM's city
😗😗😗😗 *Okay.. I have got it that Saudi Arabia doesn't want to depend on OIL anymore. That is the reason Neom is being built but but I wanna know that ""Why is Neom being built like Straight line??""" 😅 doesn't it seem weird?* Anyways I appreciate themm!
It makes sense from infrastructure financing perspective, instead of water pipes, roads and railway tracks zig zaging 50K miles all over the desert, you save money by having them all in a single file covering only 5K miles to get everyone the infrastructure and public resources.😅.. Only if you don't go half a mile high skyscraper throughout that is...
My father always say, "It's not about how much you earn, It's about how much you spend".....Now it makes sense
And how you spend it.
That's actuality loser mentality .
I will always strive to spend more on my loved ones
@@ABN_UA-cam it's obvious u haven't gotten the message... How can a whole Saudi Arabia with all their trillions of dollar still broke and trying to get loans just because they want to build a mega city that is not even necessary... All in a bid to have a luxury life
@@ONUCHEJAT
Well Saudi is in no way or form "broke"
Infact our economy is the best it has ever been !
Saudi economy is very predictable just follow the price of oil and anything above 60 dollars per barrel is very lucrative.
Currently it has been in the 80s since 2021
However the reason Saudi slowed down is insufficient foreign invest .
It is part of the vision 2030 to attract foreign investment not only because of the money but the expertise and leverage it can bring !
One reason dubai for instance is very successful is that foreign investors have a stake in its economy, in other words they are working for Dubai's success.
It is very smart to align interests with the controllers of global financial capital .
@@ONUCHEJAT something similar to the success of Singapore UAE Malaysia
Also these countries have in common including Saudi Arabia is the strategical geoeconomical location.
Saudi isn't trying to make a luxury life its trying to sell it !
Saudi hunts for cash?
Are you kidding?
500 billion dollars...are you kidding 😂Saudi did not have much cash in reserves they earn from oil only ...so why they will spent all on this
No she’s not kidding can you imagine from the past 50 years the amount of per barrel of oil exceeds to 100 USD but since the pandemic came and transition of gasoline engine cars are replaced by EV’s the amount per barrel plumeted and demand became low, so KSA is not what you thought before.
Lol bro saudi's entire GDP is just 1 trillion and u know how much they spend for welfare schemes? Literally 70% of it will be gone also 500 billion is just what Saudi government is willing to spend but the real cost of completing neom project will be over 1-2 trillion dollars from the beginning itself their plan is to attract investment from western countries but since this failed they are now looking towards china
It is always a good business practice to risk other people's money than using your own when you are not sure how it is going to turn out.
Yes Aramco is in loss 25% loss last year...it's end of Arab era
Imagine Dubai like rains in The LINE 😂
it would be covered from the top
Saudi will do something to prevent flooding in the Line, you can't judge until you see
@@SaudiArabianball and it would still be a horrible idea!
@@calvinhoward3808 Nah it won’t
Soon all mega fools jogging on the line...🤟
Collapse of the Saudi currency 😊
linked to us currency
Before their currency collapse, your currency will sure collapse first.
it will never collapse, stop dreaming kid
The Saudi Riyal is one of the strongest currency in the world
To SaudiArabianball. Saudi Arabia is a wealthy rich country & a big giant in West Asia. Your country is full of 🛢️🛢️🛢️🛢️🛢️🛢️🛢️🛢️🛢️🛢️.
Nadhmi Al-Nasr, CEO of NEOM, expressed his enthusiasm about the opportunities NEOM presents to the global investment community, highlighting recent achievements such as the largest public-private partnership for accommodation worth over SR21 billion, and a SR37.5 billion logistics services joint venture with DSV.
I like the way this woman connects the dots to give an explanation that can be understood by almost anyone who follows her.
Only, this isn't quite correct. She's a brilliant news anchor tho.
Why this channel obcession with china?
Its indian channel
Vice versa too....Chinese bots obsessed with Indian channels.
Chinese don't care poor slaves 😅
@@vaishakviswam1970Chinese media almost never talks about India. They are too bz reporting their own success.
@@The-Amazing-Wizard Glorifying India too much.
The visit included detailed presentations and focus sessions led by NEOM’s top executives, aiming to forge strategic partnerships that align with the development's Environmental, Social, and Governance (ESG) commitments.
its really a secret pipeline for oil to avoid the shipping lanes near iran...very smart
😂😂😂 Good one
u invest billions to move oil? really? that's alot of money
Nope, it's a wall. Obviously. To keep the ocean out.
@@oujisanhikari18 pipeline vs shipping...really? lol... shipping cost are out of control
@@rrb634 expand your small mind. read a book harry potter
The desert could not be claimed or owned- it was a piece of cloth carried by winds, never held down by stones, and given a hundred shifting names.- Michael Ondaatje
500 billion dollars man that is too much 😮😮😮
No way they can finish all those projects in 500 billion dollars the whole of neom intiative covers over 12 or so projects each more insane than other atleast it will cost over a trillion dollars even for a oil rich like Saudi it's impossible to gamble on it this whole project is just a scam to gather tourism and investment
Comparing to US who spent 2 Trillions in Afghanistan, it is nothing 😂.
Ie 2 000 billions= 2 Trillions
To help clarify it. One THOUSAND(1,000) BiLLIONS equals 1 TRILLION.
@@wionporky9937
They also have gdp of morethene 20trillions
@@wionporky9937, 1 trillion to Help Afghanistan people yet they are still poor.
But money was worth it, Afghan oil is amazing 🤑🤑🤑
Been there last month. Yes, work progress seems slow. But damn, it is a mega mega plan. Can't be built in a few years.
Ground work is in full swing. Hope KSA will be able to achieve it's goal 🇸🇦💛
World's largest jail? Will u live there? Given how Burj Khalifa and Palm island is doing financially, what do u think is gonna happen to this one, given at least some part is completed.
Yes, let’s see what to accept
With $500 billion, they could breathe life into arid deserts, transforming them into thriving ecosystems. Imagine the sun-kissed sands now adorned with lush greenery, resilient trees, and vibrant flora. Turn desolation into hope, proving that even the harshest landscapes can bloom with care and vision. 🌱🌵🌎
Unnecessary effort and Expense, still didn't understand what's the point of the Line concept. Why not a regular futuristic city. The practicality is a concern, this is the visionary difference between the UAE and Saudi.
I am betting it doubles as a wall. To keep rising oceans out.
2:30 I don't understand why make a long line where you can expand in all sides?
From where will they get the water for these many people? By the way, these people must be ultra rich people who would prefer to buy the house or apartment there. They waste lot of water and hence need ample water for their daily needs.
Make it in circumference of circle. And the centre part is fully covered with greenery, good artificials fountains , lakes with wildlife. Put some subways lanes passing through centre . That would attract people to live
The straight line , its a boring concept.
A strait line doubles as a wall.
In their official documents there are mentions of techs that are still Sci-Fi movie stuff. I wonder who wrote that and why his head is literally intact so far 😅
It's a futuristic city but requires heavy investment.
Glass cage prison
Jealous 😂🤣
How it is seen on general on the media: MBS Failed, game over go home.
Reality: Neom launched and much focus was dedicated to it. Suddenly Saudi won the host of 2034 World cup plus Expo 2030.
You have to choose and prioritize now.
Even those 2.4km would be a challenge with a budget of 500 billion Dollars. Just compare it to the cost of a modern 500m skyscraper…
Per Palki: what about India? SA: what about India?
india can bark 24 hrs self praise, boasting and mocking others, but in reality india is nothing 😂😂😂😂😂
If someone could build and finish this project in time , then China would be only one who to ask for help.
Wait til 5 years... Dust will cover the neom tracks
There are many great things about this idea but from a logistical perspective, strength line isn't efficient at all.
It would have been nice for this to have been built ... Just so we can see what's possible.
I prefer Dubai.....❤❤❤
@LeenaShikhaPatelcan you please enlighten me, why everyone prefers Dubai ?
What is the big deal about Dubai ?
@LeenaShikhaPatel Born and bred in Salem-Tamil Nadu, India. Living in North Western England for sometime.
It looks beautiful but I do question sustainability with climate change
Are change
Have you read the tech. or design detail of this project... it's 100% sustainable, at least it's desinged that way.
The better option would be to turn the desert into lush green Prime Real Estate section by section. And then market it similar to Du Bai, Abu Dahbi, Oman, etc
Indonesian New Capital City is more realistic project, but it failed to gain foreign Investment. The project continues anyway with or without foreign investment
Madness has no boundaries
This perfect utopia if perfect should not need any final injection to complete. MbS may not have taken into account the Cost overrun for Noem for having a civilization in the Middle of the Arabian Desert. This transformation by the Ssudis to promote Desert living is an innovative approach.question will renewable energy be implemented . Also how is the construction designed to withstand the sand storms etc.
Great reporting
What if one big storm will come 5-10 years later and traverse thru the 170km line?
Cost per m2: 500.000.000.000/(170000*100*(500/3,5))=€ 205,88. That is far too low to build the line
Cost per inhabitant: 500.000.000.000/9.000.000=€ 55.555. That is not enough to build a house/appartment. Let alone hospitals, offices, transportation etc.
Conclusion: The Line will cost at least several trillion.
The math is 10 trillion USD, and this is a conservative estimate
The Neom city still doesn't make sense to me. Why would you not create an innovative and smart green city next to Riyadh?
but why a line, why not a circle?
The Prison City 😂 imagine people are willing to be jailed for no reason if they live in underground prison city
How many Middle Eastern or Arabian countries/nations are dust free & free from pollution ?
Can't wait to implement their maintenance secrets in India, and neighbouring nation states.
KSA should make this project in blocks of 10kms.. The first 10km will already determine the fate of the remaining 160km. It's the weirdest idea ever and I can imagine, no one would have dared to speak in front of MBS.
Apart of Line everything is fine
Especially now that Namibia has discovered the largest oil reserves in the world. Arab oil reign is over
Developing forests is what is needed compared to massive concrete constructions. All the fuel costs and impact to build this and maintain does not justify a meagre million people living space. Whoever thinks this makes sense are looking at the short term gains. Nothing of ecological significance. I hope this does not gets funded, becuase there are other many more deserving the resources and funding.
If I am China they'd have to guarantee it with oil futures.
I had a feeling this wouldn't go far;this young Prince was mesmerized by Saudi riches,not knowing things just change.
The speed and what he made his fellow young leaders go through is coming back to haunt him: karma!!!!
Trying to compete with Dubai which has taken a long time to get to where it is.
.... Next, imagine we have the Zombie outbreak in the line.
It was going to be build by China. So surely it will be build. China is the only country that have the construction skills and technology to help other countries to build all the mega projects around the world through belt and road initiative. No desert, earthquake, mountain can stop China from building any mega projects around the world. Even America and it allies need china help to build the high speed rail
Chinese people are very smart 😢❤
Build a City, make it tax free for a Decade.... A better idea than this
Saudi citizenship is a non guaranteed program. Investors have fears about property buyers...
Do not understand why they are building altogether instead of step by step approach. They don’t know the impacts of such mega projects, still they jumped into it.
I think it would've been a much better idea for Saudi Arabia to take NEOM to Mars. I will invest if they have a change of heart.
when will you talk about so called SMART CITIES of India .... that too real picture ....
Instead initially finishing 2 km why not just first build an easily within budget and time half a kilometer part of the structure to show to investors instead of just simulations and models. They can finish that half a km even before 2030 meaning they can get more investors in less time that way instead of asking more investors now even though they still don't have any actual structure to back up their proposals which is why they have a hard time convincing anyone.
I love Saudi Arabia i just don't like the fact that The Line will be built on Mount Sinai. Meaning they will destroy Mount Sinai. Other than that im fine
no wonder i dont see the NEOM adds on twitter anymore
Proj with reasonable ROI is a wise investment perhaps other than this..also its big enough.
Philippines
It's going to cost trillions of dollars and never be completed.
White elephant the Neom desert project venture?
I see pride
but why does this prject exist ?
Saudi should go look for India, the galaxy’s #1 superpower. Don’t let Chinese debt trap Saudi.
Lady it's not 500 billion project it's 1.5 trillion dollar project and total projects going on in saudi is worth 7.2 trillion dollar. 965 billion dollar is just there in there public investment fund
It was a stupid idea by MBS. We have said it before. This type of projects can sink an economy
Japan has never recovered from its bubble...
Only China /Russia can invest a hundreds billion dollar for NEOM projects
Dumbest comment ever.
Just like Bullet Trains of Modi
How is there a shortage of funds everywhere? What's wrong?
They just don't want to spend their own money, that's all.
I dont understand why they dont dig ther own suez canal.they can do anything they want to become the money collectors of the region.
It's like California city dessert. Built then abandon.
Which City??
Why usa cannot invest
Must go development
Just tried to make comment. My comment was not posted.
So - I will try again. The Line is not the only project. I fear if the Line does not get built and investors either pull out or do not invest, the reputation of the Crown Prince won't be the only thing that he will have to worry about.
New city better near to current city
All those resources could have been used for something else. It's a pipe dream.
You might as well take all of the money invested in this and dump it straight the window. Largest waste of money in human history. Like the old Chinese proverb says, "A fool and his money are soon separated".
How about the drinking water?
15 minute cities will be all over the universe.....
If India could invest in Saudi, it wont chase China.... same things had happened in neighbourhood....? Delayed investing, waiting on . for market sway.... then blame China for grabbing the opportunities... problem is India is deliberately loosing them... Palki crying over spilled milk will not help India ....
Indian investment to neighbors waned again. To be honest, in her 77 years of existance, India has been more of a development hinderance to her neighbors.
But even withall those, no sensible investor will ever invest in NEOM. Even Burj Khalifa and Palm island were less riskey and yet those two are complete financial failure.
😂😂😂 it's will cost more than 1 trillion 😂😂
Rightly said bro neom covers over 11 or 12 projects each more ridiculous than other not to mention the sustainability factor.....
Good morning
I do read some comments on this report, the ones i read it coming from emploee with limited locks for future😢
They want investors so that they can get security support from rich countries