New PIF subsidiary to deliver Saudi’s first World Expo 

Saudi Arabia’s Public Investment Fund has launched a new company to build and operate the Expo 2030 Riyadh, the kingdom’s first World Expo. 

The Expo 2030 Riyadh Company has been tasked to develop the Expo as a model for sustainable tourism, and preserve the event’s legacy, the fund said in a statement on Thursday. 

The Expo, located to the north of the capital city, is projected to attract more than 40 million visits. It is forecast to add $64 billion to the Saudi economy during its construction phases, as well as generate approximately 171,000 direct and indirect jobs. 

Once operational, the event is expected to contribute approximately $5.6 billion to the kindgom’s national income. 

Saad Alkroud, head of the local real estate investment division at PIF said that the establishment of the company aligns with PIF’s local real estate strategy, which drives economic transformation and diversification.

The six-month event will open its doors on October 1, 2030 and run until March 31, 2031. Participating countries will have the opportunity to build permanent pavilions. 

Under post-Expo plans, the site will transform into a global village, becoming a hub for retail, food and beverage, enclosed by an international residential community.