PIF launches new company to deliver Expo 2030 Riyadh
Saudi Gazette report
RIYADH — The Public Investment Fund (PIF) announced on Thursday the launch of Expo 2030 Riyadh Company, a wholly-owned entity.
The company will build and operate the facilities for Expo 2030 Riyadh, the first of its kind in Saudi Arabia, and invest in its facilities over the long term.
The master plan for Expo 2030 Riyadh covers an area of 6 million square meters north of Riyadh, adjacent to the future King Salman International Airport.
It will be one of the largest Expo sites in the history of the exhibition, directly connected to several key prominent locations.
Expo 2030 Riyadh is expected to attract more than 40 million visits. Following its completion, the company will transform the exhibition into a global village, a multicultural hub for retail and dining activities, surrounded by a world-class residential community that will serve as a model for sustainable tourism.
The Public Investment Fund works to create a positive economic impact in Saudi Arabia and ensure sustainable returns.
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 Classification: Public 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.'
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 Oct. 1, 2030 to March 31, 2031 and will further strengthen the city's attractiveness to international businesses. It marks the city's status as one of the world's fastest-transforming capitals, one that combines sustainability, connectivity and quality of life at scale.
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. Once operational, it is expected to contribute approximately $5.6 billion to GDP.
Countries participating in Expo 2030 Riyadh will have the option of building permanent pavilions and being part of the event's legacy. The Expo will provide opportunities for long-term business and investment growth.
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