Saudi Arabia's futuristic city project Neom has announced the departure of long-time CEO Nadhmi Al-Nasr in an abrupt leadership reshuffle. The $500B project, a pillar of Crown Prince Mohammed bin Salman’s drive to diversify Saudi Arabia’s economy away from a reliance on oil,

Nasr estimated the total cost of the line alone would be considerably over $2 trillion, which is far more than the country's ability to spend on development. He took the reins in 2018 and pushed staff hard.

Nasr, was replaced after six years, amid pressure on the Public Investment Fund to deliver on major projects like The Line and Trojena.

Saudi Arabia replaced the executive that was overseeing its plan to build the $1.5 trillion futuristic development known as Neom, in the latest sign that the project is struggling to deliver on its ambitions.

Nasr, the long-time chief executive of the $500 billion NEOM mega-project at the heart of Saudi Arabia's drive to diversify away from oil, has departed, NEOM said on Tuesday without giving a reason. Crown Prince Mohammed bin Salman,

Neom, Saudi Arabia's ambitious megacity project, is a key part of the kingdom's Vision 2030 scheme. Its CEO stepped down after six years in the role.

Saudi Arabia announced Tuesday that it was replacing the chief executive of its futuristic mega-city NEOM as scepticism mounts over the Gulf kingdom's most ambitious development projects.

The departure of the longtime CEO marks a major shakeup at Neom, which is a showpiece of Riyadh’s economic ambitions.