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.

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

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,

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.

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.

Neom is set to host hyper-futuristic cityscapes and structures — but financial pressures on the kingdom are changing.

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