Saudi PIF launches new company to deliver Expo 2030
Saudi Arabia's sovereign wealth fund PIF has launched a new unit that will be responsible to build and operate the facilities of Expo 2030 Riyadh – Saudi Arabia's first World Expo.
Expo 2030 Riyadh Company (ERC) will develop Expo as a model for sustainable tourism and preserve the event's legacy.
The masterplan for Expo 2030 Riyadh covers an area of 6 million square metres, making it one of the biggest World Expo sites.
It 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.
Expo 2030 Riyadh is projected to attract more than 40 million visits. After the 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, and setting new standards in sustainable tourism.
ERC is swiftly launching operations to fulfill its mandate, and will partner with the local and global private sector to achieve its goals for construction, cultural programming and event management.
Expo 2030 Riyadh runs from October 1, 2030 to March 31, 2031 and will further strengthen the city's attractiveness to international businesses.
Riyadh was awarded the hosting rights for Expo 2030 in November 2024, winning the vote in the first round.
During its construction phases, Expo 2030 Riyadh and its legacy are projected to contribute around $64 billion to Saudi GDP and generate approximately 171,000 direct and indirect jobs.
#PIF today announced the launch of Expo 2030 Riyadh Company (ERC), #aPIFcompany to build and operate the facilities of #Expo2030Riyadh - Saudi Arabia's first World Expo - as well as preserving the legacy of the event.
Learn more: https://t.co/ZeEg5GO4Jl pic.twitter.com/cAtMfaazk0
— Public Investment Fund (@PIF_en) June 19, 2025
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Dubai Eye
4 hours ago
- Dubai Eye
Saudi PIF launches new company to deliver Expo 2030
Saudi Arabia's sovereign wealth fund PIF has launched a new unit that will be responsible to build and operate the facilities of Expo 2030 Riyadh – Saudi Arabia's first World Expo. Expo 2030 Riyadh Company (ERC) will develop Expo as a model for sustainable tourism and preserve the event's legacy. The masterplan for Expo 2030 Riyadh covers an area of 6 million square metres, making it one of the biggest World Expo sites. It 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. Expo 2030 Riyadh is projected to attract more than 40 million visits. After the 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, and setting new standards in sustainable tourism. ERC is swiftly launching operations to fulfill its mandate, and will partner with the local and global private sector to achieve its goals for construction, cultural programming and event management. Expo 2030 Riyadh runs from October 1, 2030 to March 31, 2031 and will further strengthen the city's attractiveness to international businesses. Riyadh was awarded the hosting rights for Expo 2030 in November 2024, winning the vote in the first round. During its construction phases, Expo 2030 Riyadh and its legacy are projected to contribute around $64 billion to Saudi GDP and generate approximately 171,000 direct and indirect jobs. #PIF today announced the launch of Expo 2030 Riyadh Company (ERC), #aPIFcompany to build and operate the facilities of #Expo2030Riyadh - Saudi Arabia's first World Expo - as well as preserving the legacy of the event. Learn more: — Public Investment Fund (@PIF_en) June 19, 2025
ARN News Center
5 hours ago
- ARN News Center
Saudi PIF launches new company to deliver Expo 2030
Saudi Arabia's sovereign wealth fund PIF has launched a new unit that will be responsible to build and operate the facilities of Expo 2030 Riyadh – Saudi Arabia's first World Expo. Expo 2030 Riyadh Company (ERC) will develop Expo as a model for sustainable tourism and preserve the event's legacy. The masterplan for Expo 2030 Riyadh covers an area of 6 million square metres, making it one of the biggest World Expo sites. It 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. Expo 2030 Riyadh is projected to attract more than 40 million visits. After the 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, and setting new standards in sustainable tourism. ERC is swiftly launching operations to fulfill its mandate, and will partner with the local and global private sector to achieve its goals for construction, cultural programming and event management. Expo 2030 Riyadh runs from October 1, 2030 to March 31, 2031 and will further strengthen the city's attractiveness to international businesses. Riyadh was awarded the hosting rights for Expo 2030 in November 2024, winning the vote in the first round. During its construction phases, Expo 2030 Riyadh and its legacy are projected to contribute around $64 billion to Saudi GDP and generate approximately 171,000 direct and indirect jobs. #PIF today announced the launch of Expo 2030 Riyadh Company (ERC), #aPIFcompany to build and operate the facilities of #Expo2030Riyadh - Saudi Arabia's first World Expo - as well as preserving the legacy of the event. Learn more: — Public Investment Fund (@PIF_en) June 19, 2025
Arabian Business
6 hours ago
- Arabian Business
PIF launches Expo 2030 Riyadh Company to build landmark giant World Expo site
Saudi Arabia's Public Investment Fund (PIF) has announced the establishment of Expo 2030 Riyadh Company (ERC), a wholly owned entity tasked with developing, operating, and sustaining Saudi Arabia's first World Expo — Expo 2030 Riyadh. The Expo, set to run from October 1, 2030 to March 31, 2031, will take place on a vast 6 million square metre site north of Riyadh, near the upcoming King Salman International Airport. Strategically connected to the city's major landmarks, the Expo site is positioned to become a future-facing, multicultural destination aligned with Saudi Vision 2030. PIF launches Expo 2030 Riyadh Company Key highlights from the Expo 2030 Riyadh project: More than 40m visits expected during the Expo event Estimated $64bn contribution to Saudi Arabia's GDP during construction phases Around 171,000 direct and indirect jobs projected to be created Post-event GDP contribution expected to be $5.6bn annually Participating countries can construct permanent pavilions, ensuring long-term investment potential Plans to transform the Expo site into a global village, integrating retail, F&B, sustainable tourism, and a world-class residential community 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.' Following Riyadh's successful bid to host the World Expo — secured in the first round of voting in November 2024 — ERC is already fast-tracking operations. The company will collaborate with both local and international private sector partners to deliver on construction, cultural programming, and operational readiness. The legacy-focused approach of Expo 2030 Riyadh reflects PIF's broader mandate: to catalyse Saudi Arabia's economic diversification, generate sustainable returns, and establish transformative giga-projects that shape the future of the global economy. As one of the largest World Expo sites in history, Expo 2030 Riyadh is set to cement the Saudi capital's position as a leading global business, culture, and innovation hub.
