The Public Investment Fund announced today the establishment of Expo 2030 Riyadh Company, a wholly owned subsidiary of the Fund, to develop and operate the Expo 2030 Riyadh, the first edition of this global event to be hosted in the Kingdom, while investing in its infrastructure over the long term.
The Public Investment Fund (PIF) has announced the establishment of Expo 2030 Riyadh Company, a wholly owned subsidiary of the Fund. <The new company will lead the implementation of the Expo master plan, which spans a massive 6 million square meters north of the capital, near the site of the future King Salman International Airport, making it one of the largest Expo sites in history. The site will be directly connected to many of Riyadh's most prominent landmarks and vital centers. <The Expo, to be held between October 1, 2030 and March 31, 2031, is expected to attract more than 40 million visits, according to official estimates. <The company will not only host the event, but will move forward to transform the site into a multicultural global village that includes retail, restaurants, and an integrated residential community built to the highest international standards. The move aims to create an advanced model for sustainable tourism that will establish Riyadh as a global cultural center. The Fund confirmed that the company will begin its work at an accelerated pace to achieve its goals, in cooperation with the public and private sectors locally and internationally, through partnerships in the fields of construction and construction, organizing events, and developing cultural programs.
The Fund said that the company will begin its work at an accelerated pace to achieve its goals. Commenting on the event, Saad Al Karroud, Head of the General Department of Local Real Estate Investments at the Public Investment Fund, said:
“The establishment of Expo 2030 Riyadh is in line with the Fund's vision to develop the real estate sector, and the company will benefit from the Fund's wide investment platform locally and globally."
<Expo 2030 is expected to have a tremendous economic impact on the Kingdom, with its contribution to GDP during the construction phase estimated to reach about SAR 241 billion, while creating about 171,000 direct and indirect job opportunities. During the operational phase, its annual contribution to GDP is expected to reach SAR 21 billion. The exhibition will give participating countries the opportunity to build permanent pavilions, which will become part of the site's sustainable facilities after the event, establishing the long-term utilization of this global structure.
Riyadh City has already announced that the exhibition will be held in the city of Riyadh.
Riyadh won the honor of organizing this global event in November 2024 through an overwhelming vote in the first round, an achievement that reflects the world's confidence in the Kingdom's ability to host major events and realize the ambitions of Vision 2030.
