Unleashing an Iranian tiger
A Gulf investor with an analytical and artistic bent, Ali al-Salim pinpointed the long-term challenges Saudi Arabia faces as it reestablishes relations with Iran.
While most analysts focused on the immediate reduction of regional tensions and the possible opening for an end to the eight-year-long Saudi military intervention in Yemen as a result of a Chinese-mediated agreement to restore diplomatic relations between two Middle Eastern arch-rivals, Mr. Al-Salim is looking at Iran’s long-term competitive edge compared to the kingdom.
“As relations between Saudi and Iran begin to thaw, the logic for Saudi’s ambitious ‘Trojena’ ski resort will come further into question. Iran boasts world-class ski resorts an hour from Tehran and 90km of slopes. Oh, and it’s all natural, even the snow,” Mr. Al-Salim said on Twitter.
Mr. Al-Salim was referring to a yet-to-be-built resort on mountain peaks overlooking Neom slated to be home to 7,000 people by 2026 and annually attract 700,000 visitors. Trojena would be the Gulf’s first outdoor ski resort.
Neom is Saudi Crown Prince Mohammed bin Salman’s US$500 billion fantasia. It is a futuristic science-fiction-like new city and tourism destination along the Red Sea in a mostly unpopulated part of the kingdom.
Somewhat incongruously, the Olympic Council of Asia has awarded Trojena the right to host the 2029 Asian Winter Games.
In contrast to Iran’s up to 5,600-metre high, 600-kikometer-long Alborz mountain range that stretches along the Caspian Sea, snow falls occasionally on Trojena’s 2,400-metre high Sarawat mountains.
To compensate for its shortage, Trojena plans to create an outdoor ski slope by blasting artificial snow on the mountains. This slope would be powered by renewable energy.
In Mr. Al-Salim’s mind, Trojena appears to be emblematic of the broader challenge posed by an Iran that eventually is freed of the shackles of crippling US sanctions and has rebuilt its economy.
Unshackled and recovered, Iran brings to the table much that Saudi Arabia has and more. With a population close to 90 million, Iran is almost three times the size of the kingdom. It ranks as the world’s third-largest oil and second-largest natural gas reserve holder…
