Saudi Arabia’s Public Investment Fund (PIF) has launched a new company ‘Expo 2030 Riyadh Company (ERC)’ to deliver Expo 2030 Riyadh, Saudi Arabia’s first World Expo.
The new company, fully owned by PIF, will build, operate and manage Expo 2030 Riyadh while also preserving the legacy of the event. The Expo is set to stand out as one of the biggest World Expo Sites, spanning an area of 6 million square meters.
It will be located north of Riyadh, near the future King Salman International Airport, and with direct connections to the Saudi capital’s landmarks. The event is expected to attract over 40 million visits.
After the Expo event, ERC plans to transform 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 cutting-edge amenities, and setting new standards in sustainable tourism.
PIF is committed to driving economic development in Saudi Arabia while securing sustainable returns. PIF supports the development of transformative giga-projects and landmark real estate initiatives across Saudi Arabia.
Saad Alkroud Head of the Local Real Estate Investment Division – PIF
“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.”
ERC is swiftly starting operations and plans to team up with the local and global private sector to achieve its goals for construction, cultural programming and event management.
Expo 2030 Riyadh, scheduled to take place from Oct 1, 2030 to March 31, 2031, is poised to reinforce the city’s attractiveness to international businesses while cementing its status as one of the world’s fastest-transforming capitals. In November 2024, Riyadh secured the hosting rights for Expo 2030 after winning the vote in the first round.
During its construction phases, Expo 2030 Riyadh and its legacy are expected to contribute around $64 billion to Saudi GDP and flourish approximately 171,000 direct and indirect job opportunities. After starting operation, it is projected to contribute approximately $5.6 billion to GDP.
Expo 2030 Riyadh will provide the participating countries with the option to build permanent pavilions and become part of the event’s legacy. It will also offer opportunities for long-term business and investment growth.
