The Public Investment Fund (PIF) announced on June 19 the establishment of the Expo 2030 Riyadh Company (ERC), a fully owned subsidiary aimed at constructing and managing the facilities for Saudi Arabia’s inaugural World Expo. ERC will also oversee the preservation of the event’s legacy.
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The masterplan for Expo 2030 Riyadh encompasses an area of 6 million square meters, making it one of the largest venues for a World Expo. The site is located in the northern part of Riyadh, close to the upcoming King Salman International Airport and conveniently connected to major landmarks throughout the city.
Vision for the Future and Legacy Preservation
Expo 2030 Riyadh is anticipated to welcome over 40 million visitors. After the event concludes, ERC will transform the designated area into a global village featuring retail, dining, and residential spaces, equipped with top-tier amenities. This initiative aims to redefine sustainable tourism and urban living, according to a press release from PIF.
PIF is committed to its strategic mission of fostering sustainable economic growth in Saudi Arabia while ensuring long-term financial returns. As one of the leading global investors, PIF plays a pivotal role in the nation’s economic diversification, spearheading the development of major giga-projects and significant real estate ventures.
Partnerships and Operational Initiatives
ERC is swiftly commencing its operations to achieve its objectives. It will closely collaborate with local and international private sector entities in areas such as construction, cultural programming, and event management to maximize the impact of Expo 2030 Riyadh.
The Expo is scheduled to take place from October 1, 2030, to March 31, 2031, enhancing Riyadh’s attractiveness to international businesses and emphasizing its rapid transformation into one of the world’s most dynamic capitals—offering sustainability, connectivity, and a high standard of living. Riyadh was awarded hosting rights for Expo 2030 in November 2023 after winning the initial voting round.
Economic Benefits and Employment Opportunities
The construction phases of Expo 2030 Riyadh and its subsequent legacy are projected to contribute approximately $64 billion to the GDP of Saudi Arabia and create around 171,000 jobs, both direct and indirect. Once operational, the Expo is expected to add approximately $5.6 billion annually to the GDP.
Countries participating in the Expo will have the opportunity to build permanent pavilions, further enhancing the event’s lasting legacy. The Expo will also act as a platform for ongoing business and investment opportunities both regionally and globally.