Saudi Arabia’s Neom has terminated several major contracts related to the Trojena development, including a structural steel package awarded to Eversendai Corporation Berhad, reflecting a broader reassessment of project priorities.
Eversendai said the termination of its structural steel contract for the Trojena Ski Village will take effect on March 26, 2026, citing the current geopolitical situation in the Middle East. The contract, awarded in March 2024 and executed in partnership with Saudi-based Al Bawani, covered key superstructure works for the ski village. The company is preparing to submit claims related to work completed and demobilization costs.
In a separate development, Neom has also withdrawn from contracts awarded to Italy’s Webuild for the construction of three dams and associated infrastructure, including The Bow, architectural structure at Trojena. The termination of these contracts will take effect from March 29, 2026.
The cancellations are part of a broader strategic shift within Neom, which has been undergoing restructuring amid rising costs and evolving project priorities. Several large-scale developments have been scaled back or delayed, including revisions to The Line project and the relocation of the 2029 Asian Winter Games.
Market participants indicate that the changes reflect a more disciplined approach to project execution, with increased focus on cost efficiency, phased development and prioritization of projects aligned with national targets such as Expo 2030 and the 2034 FIFA World Cup.
