Publication date:
February 22, 2024
Saudi Arabia Finances Megaprojects Amid Oil Price Challenges
To support ambitious initiatives like the Neom megacity, Saudi Arabia is leveraging debt sales and Aramco share dispositions.
Oil Market
In light of fluctuating oil prices, Saudi Arabia has initiated efforts to secure funding for its large-scale projects, such as the Neom desert megacity, by re-entering the debt market and selling additional shares of its state-owned oil company, Aramco. This strategic financial maneuver aims to ensure the continued advancement of the country's substantial development projects despite the economic pressures exerted by the global oil market.