Longtime CEO Nadhmi al-Nasr left Neom, Saudi Arabia’s marquee development, which has been plagued by delays, cost overruns and staff turnover.

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. There has been mounting scepticism over signature projects such as NEOM,

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,

Nadhmi al-Nasr, the long-time chief executive of the $500 billion Saudi development project NEOM launched by Crown Prince Mohammed bin Salman, has departed, NEOM said on Tuesday without giving a reason.

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 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.

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