Expo 2030 aims to be a model for sustainable tourism and legacy
PIF, the Saudi Arabia sovereign wealth fund, has launched a new company to build and operate facilities for Expo 2030, which it says will be one of the biggest World Expo sites.
The company, Expo 2030 Riyadh Company (ERC), wholly owned by PIF, will partner with the local and global private sector to achieve its goals for the event’s construction, cultural programming and management. Expo 2030 is taking place in Riyadh from October 2030 to March 2031.
The masterplan for Expo 2030 Riyadh covers an area of six million square meters. The event will be located to the north of the city, near the future King Salman International Airport, and with direct connections to the Saudi capital's landmarks.
PIF says Expo 2030 Riyadh is projected to attract more than 40 million visits and contribute almost $70 billion to Saudi GDP. 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.
Saad Alkroud, head of the Local Real Estate Investment Division at PIF said: "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."