Non-Oil GDP Share: 76% ▲ -7.7pp vs 2020 | Saudi Unemployment: 3.5% ▲ -0.5pp vs 2023 | PIF AUM: $941.3B ▲ +$345B vs 2022 | Inbound FDI: $21.3B ▼ -6.4% vs 2023 | Female Participation: 33% ▲ -1.1pp vs 2023 | Credit Rating: Aa3/A+ ▲ Moody's / Fitch | GDP Growth: 2.0% ▲ +1.5pp vs 2023 | Umrah Pilgrims: 16.92M ▲ vs 11.3M target | Non-Oil GDP Share: 76% ▲ -7.7pp vs 2020 | Saudi Unemployment: 3.5% ▲ -0.5pp vs 2023 | PIF AUM: $941.3B ▲ +$345B vs 2022 | Inbound FDI: $21.3B ▼ -6.4% vs 2023 | Female Participation: 33% ▲ -1.1pp vs 2023 | Credit Rating: Aa3/A+ ▲ Moody's / Fitch | GDP Growth: 2.0% ▲ +1.5pp vs 2023 | Umrah Pilgrims: 16.92M ▲ vs 11.3M target |

Mukaab

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The Graveyard of Giga-Projects: A Forensic Audit of Every Vision 2030 Project That Failed, Flopped, or Quietly Died

The Line scaled to 1.4% of plan. Mukaab suspended. Trojena's dams cancelled. Jeddah Tower frozen since 2018. An $8 billion portfolio writedown. The complete forensic record of Vision 2030's cancelled, suspended, and quietly killed giga-projects.

Updated Apr 5, 2026

The Mukaab: Saudi Arabia's $50 Billion Cube That Built Nothing

A 400-metre cube that could fit 20 Empire State Buildings. A $50 billion budget. $100 million in contracts actually awarded. Construction suspended in January 2026. Completion pushed from 2030 to 2040. The full audit of Saudi Arabia's most ambitious vanity project.

Updated Apr 5, 2026
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