Expo 2030 Riyadh expected to attract more than 40 million visits
Expo's contribution to GDP to exceed SAR 262 billion
Saudi Arabia's Public Investment Fund (PIF) announced today the launch of Expo 2030 Riyadh Company, wholly owned by the fund. The company will build and operate the facilities of Expo 2030 Riyadh, the first of its kind in the Kingdom, and invest in its facilities over the long term.
The Expo 2030 Riyadh master plan covers an area of 6 million square meters north of Riyadh, next to the future King Salman International Airport, making it one of the largest Expo sites in the exhibition's history, and it connects directly to many key landmark locations.
Expo 2030 Riyadh is expected to attract more than 40 million visits, and after it ends, the company will transform the site into a global village, a multicultural hub for retail and dining activities surrounded by a world-class residential community built to the highest standards, representing a model of sustainable tourism.
The Public Investment Fund continuously works to achieve its strategic targets to create a positive economic impact in the Kingdom while ensuring sustainable returns. The fund is one of the most prominent and influential global investors, enabling new sectors and opportunities that help shape the global economy and drive Saudi Arabia's economic transformation. The fund also leads the development of major transformational projects and prominent real estate initiatives across the Kingdom.
Saad Al-Kroud, Head of Domestic Real Estate Investments at the Public Investment Fund, said: "Expo 2030 Riyadh Company will benefit from PIF's diverse local and global ecosystem, and the establishment of the company is in line with the fund's strategy in the real estate sector, which is driving the strengthening and diversification of the local economy, advancing urban innovation and improving quality of life, in fulfillment of the targets of Saudi Vision 2030."
The company will launch its operations at an accelerated pace to meet its targets, and intends to form partnerships with the local and international private sector to achieve its goals in construction, as well as cultural programs and event organization.
Expo 2030 Riyadh, scheduled to be held from October 1, 2030, to March 31, 2031, will enhance Riyadh's appeal to global businesses and companies, helping to cement Riyadh's position as one of the world's fastest-transforming capitals, combining the concepts of sustainability, connectivity and quality of life. In November 2023, Riyadh won the bid to host Expo 2030 in the first round of voting.
The total contribution of Expo 2030 Riyadh and its facilities to the Kingdom's gross domestic product during the construction phases is expected to reach nearly SAR 241 billion, with the number of jobs created reaching 171,000 direct and indirect jobs, while the contribution to GDP in the operational phase will be around SAR 21 billion.
Expo 2030 Riyadh will give participating countries the opportunity to build permanent pavilions as part of its sustainable facilities, and these pavilions will provide opportunities for long-term business growth and investment, according to the official website of the Saudi Public Investment Fund.
