Saudi Arabia’s Public Investment Fund announced the launch of Expo 2030 Riyadh Company this week. The new company will build and run the facilities for the country’s first World Expo, set to take place from October 2030 to March 2031.
The project spans 6 million square meters, making it one of the largest World Expo sites ever built. The massive venue will be located north of Riyadh, close to the future King Salman International Airport. The site will have direct connections to the Saudi capital’s main landmarks.
PIF, Saudi Arabia’s $925 billion sovereign wealth fund, owns the new company completely. The fund appointed Talal Al-Marri as the company’s first CEO. Al-Marri comes from Saudi Aramco, where he worked for over 20 years. He most recently served as President and CEO of Aramco Europe before leaving in January 2025. He brings 25 years of experience in leadership, operations, and government affairs to his new role.
The World Expo is expected to attract more than 40 million visits during its six-month run. Saudi Arabia won the hosting rights in November 2023, beating other countries in the first round of voting by the Bureau International des Expositions.
The project carries significant financial expectations. During construction and development, Expo 2030 Riyadh is projected to contribute around $64 billion to Saudi Arabia’s GDP. The project is also expected to create about 171,000 direct and indirect jobs. Once the expo begins operations, it should add approximately $5.6 billion more to the country’s GDP.
The expo site will not disappear after the event ends. The new company plans to transform the area into a permanent global village. This will include retail spaces, restaurants, and an international residential community. The goal is to create a multicultural hub that sets new standards for sustainable tourism.
Countries participating in the expo will have the option to build permanent pavilions. This means some structures will remain as part of the site’s long-term legacy, providing ongoing business and investment opportunities.
The timing aligns with Saudi Arabia’s Vision 2030 program, which aims to diversify the economy away from oil dependence. Crown Prince Mohammed bin Salman’s economic plan reaches its target year the same time as the expo takes place.
This project represents another large-scale construction commitment for Saudi Arabia, which faces several major international events in coming years. The kingdom will host the 2029 Asian Winter Games and the 2034 World Cup, all requiring significant infrastructure investment.
The announcement comes as Saudi Arabia deals with budget pressures from lower oil prices. The International Monetary Fund says the country needs oil prices above $90 per barrel to balance its budget. Current oil prices sit in the mid-70s range.
Saad Alkroud, who heads PIF’s Local Real Estate Investment Division, said the new company benefits from the fund’s diverse local and global connections. The establishment fits with PIF’s real estate strategy to drive economic transformation and improve quality of life.
The company will partner with local and international private sector firms for construction, cultural programming, and event management. Operations are launching immediately to meet the 2030 deadline.
Saudi Arabia’s commitment to hosting multiple major events reflects its broader strategy to become a global destination for business, tourism, and culture. The World Expo represents a key milestone in positioning Riyadh as an international hub.
The expo will also showcase Saudi Arabia’s growing technology sector. It will be the first World Expo where metaverse technology is expected to be widely available, encouraging visitors to explore digital experiences alongside physical pavilions.
Construction and development work will begin soon as the new company races to meet the October 2030 opening date. The six-month event will run until March 31, 2031, marking a significant moment for Saudi Arabia’s economic diversification efforts.
