Riyadh - Sharikat Mubasher: Saudi Arabia’s Public Investment Fund (PIF) launched the Expo Riyadh Company (ERC) to build and operate the facilities of Expo 2030 Riyadh, in addition to preserving the legacy of the event.
ERC will partner with the local and global private sector to achieve its goals for construction, cultural programming, and event management, the PIF announced in a statement today.
The master plan for Expo 2030 Riyadh covers an area of 6 million square meters, making it one of the biggest World Expo sites with expectations to attract more than 40 million visits.
After the event, ERC plans to lead the transformation of the Expo’s gated area into a global village to serve as a multicultural hub for retail and F&B, surrounded by an international residential community with world-class amenities, and setting new standards in sustainable tourism.
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.”
Launching the new company reflects the PIF’s commitment to achieving economic impact for Saudi Arabia while securing sustainable returns. It also reinforces the Fund’s pivotal role in leading the development of transformative giga-projects and landmark real estate initiatives across Saudi Arabia.
