Saudi Arabia suspends work on Mukaab megaproject

Saudi Arabia has suspended planned construction of a colossal cube-shaped skyscraper at the center of a downtown development in Riyadh while it reassesses the project's financing and feasibility, four people familiar with the matter said.

The Mukaab, at the center of Riyadh's New Murabba development, is the latest fantastical gigaproject linked to Saudi Arabia's Vision 2030 to be curtailed or delayed as the kingdom's $925 billion sovereign wealth fund scales back ambitions to manage costs and prioritize spending.