Saudi Arabia shelves $2.5bn NEOM stadium planned for 2034 World Cup

Saudi Arabia has reportedly put on hold plans for the NEOM Stadium, a key component of the 2034 FIFA World Cup, following delays and scaling back of the NEOM development. NEOM Stadium was envisioned as an elevated arena within The Line, a 100-mile steel-and-glass project forming part of the broader NEOM megacity. NEOM was initiated nearly a decade ago as part of Crown Prince Mohammed bin Salman's Vision 2030 plan to diversify the Saudi economy and lessen its reliance on oil.

Sources close to the situation indicate that the NEOM Stadium project has been indefinitely deferred. The announcement comes in the wake of The Line's owner, the Public Investment Fund, stating in April that the project is no longer a priority before 2030, though no cancellations were explicitly mentioned at that time. The 2034 World Cup is a significant sporting goal for Saudi Arabia, with the country planning to construct or renovate 15 venues across five cities and numerous training facilities, with an estimated total value of $22.7 billion.

Although Saudi officials have not commented on the NEOM Stadium directly, the World Cup hosting authority reports progress on major construction milestones for the tournament. Other stadium projects continue, such as the Aramco Stadium in Al Khobar, set for completion by the end of the year.