Saudi Arabia launches Expo 2030 Riyadh Company to deliver Kingdom’s first World Expo

Riyadh, June 19 (Saudi Arabia Breaking News) – The Public Investment Fund (PIF) announced on Wednesday the establishment of Expo 2030 Riyadh Company (ERC), a wholly owned subsidiary mandated to develop, operate, and manage the infrastructure and long-term legacy of Expo 2030 Riyadh — Saudi Arabia’s first World Expo.

According to a press release, the ERC will oversee the full delivery of Expo 2030 Riyadh, which will be held from October 1, 2030 to March 31, 2031. The event will cover a six million square meter site in the north of Riyadh, near the future King Salman International Airport, and will be directly connected to key landmarks across the capital.

The company aims to attract over 40 million visits during the event period. Following the Expo, ERC will lead the transformation of the site into a permanent global village designed to serve as a multicultural hub for retail, dining, and entertainment. The redevelopment will include a world-class international residential community, focused on sustainable tourism and integrated urban design.

The project is expected to contribute approximately $64 billion to Saudi Arabia’s GDP during its development phases and generate around 171,000 direct and indirect jobs. Once operational, the Expo site is projected to add $5.6 billion annually to GDP.

ERC will work closely with local and international private sector partners across construction, cultural programming, and event management. Participating countries will have the option to construct permanent pavilions and integrate them into the long-term vision of the site, enhancing opportunities for ongoing investment and business collaboration.

PIF stated that the establishment of ERC aligns with its strategic objective of enabling economic transformation in the Kingdom while ensuring sustainable financial 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 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.”

Riyadh was awarded the right to host World Expo 2030 in November 2024, winning the vote in the first round. The event is expected to further strengthen the city’s global positioning, combining sustainability, connectivity, and quality of life at scale.