Expo 2030 Riyadh is projected to attract more than 40 million visits
Public Investment Fund, the sovereign wealth fund of Saudi Arabia, announced the launch of a wholy-owned subsidiary, Expo2030 Riyadh Company (ERC), to build and operate the facilities of Expo 2030 Riyadh, Saudi Arabia’s first World Expo that will be held in the capital in 2030.
In a press statement, PIF says that the masterplan for Expo 2030 Riyadh covers an area of 6 million sqm, making it one of the biggest World Expo sites. The Expo will be to the north of the city, near the future King Salman International Airport, and with direct connections to the Saudi capital’s landmarks.
Saad Alkroud
The statement adds that Expo 2030 Riyadh is projected to attract more than 40 million visits. After the Expo event, ERC plans to lead the transformation of the Expo’s gated area into a global village to serve as a multicultural hub for retail, food and beverage, surrounded by an international residential community with world-class amenities, and setting new standards in sustainable tourism.
“ERC benefits from PIF’s diverse local and global ecosystem and the establishment of the company aligns with PIF’s local real estate strategy, which drives economic transformation and diversification, advancing urban innovation and enhancing quality of life, driven by the ambitious goals of Saudi Vision 2030,” says Saad Alkroud, Head of the Local Real Estate Investment Division, PIF.
According to the statement, Expo 2030 Riyadh will run from October 1, 2030 to March 31, 2031 and will further strengthen the city’s attractiveness to international businesses.
During its construction phases, Expo 2030 Riyadh and its legacy are projected to contribute around USD 64 billion to Saudi GDP and generate approximately 171,000 direct and indirect jobs. Once operational, it is expected to contribute approximately USD 5.6 billion to GDP, adds the statement.
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