RIYADH: Expo 2030 Riyadh and Mohammad Al Habib Real Estate Co. have signed a SR3.2 billion ($853 million) joint venture agreement to develop and deliver Expo Village, an integrated residential community for the upcoming event. 

The agreement marks Expo 2030 Riyadh’s first joint-venture project and reflects its commitment to strengthening partnerships with the private sector to unlock new economic opportunities and create sustainable value, beginning with preparations for the Expo and continuing beyond the event, while enhancing the lasting legacy the site will leave for Riyadh. 

Expo Village to house 5,500 residents 

Expo Village will provide an integrated residential community specifically designed to accommodate official delegations participating in Expo 2030 Riyadh. 

The development has been designed as a residential destination with integrated services and facilities to meet the needs of international participants throughout their stay and support the smooth operation of their activities and participation in Expo 2030 Riyadh. 

The project will comprise around 2,300 residential units accommodating approximately 5,500 residents, alongside a comprehensive mix of retail and dining spaces, facilities and services, as well as operational buildings. 

The project will enjoy a strategic location with direct and seamless connectivity to the Expo 2030 Riyadh site through the Expo station, as well as connectivity to King Khalid International Airport and Riyadh’s wider transport network. 

$853m JV marks first Expo project 

Under the agreement, Expo 2030 Riyadh and the real estate company will collaborate across the various stages of Expo Village’s development under a partnership based on complementary roles and expertise. Expo 2030 Riyadh will provide strategic oversight and define the project’s requirements, while the real estate company will leverage its expertise in development, investment and operations.  

The agreement was signed by Expo 2030 Riyadh CEO Talal Al-Marri and the company’s CEO Abdullah Mohammed Al-Habib at the Expo 2030 Riyadh site, where development and construction work is progressing. 

The signing was attended by Saad Al-Kroud, head of the local real estate investments division at the Public Investment Fund and chairman of the executive committee of the Expo 2030 Riyadh Board.  

Al-Marri said Expo Village represents an important step in the implementation of Expo 2030 Riyadh and reflects the organization’s approach to building effective partnerships with the private sector and leveraging its expertise, capabilities and investments as a strategic implementation partner. 

He added that as implementation accelerates and work progresses across the Expo 2030 Riyadh site, the development of the infrastructure, services and facilities needed to meet participants’ requirements is also continuing. 

Village to become permanent community 

Through the agreement with Mohammad Al-Habib Real Estate Co., the Expo Village project is moving into an advanced stage of implementation following the completion of design and site preparation work, paving the way for construction to begin according to the approved schedule.  

Expo Village will provide a high-quality, integrated residential environment for international participants during the Expo before being transformed into a permanent residential community after the event, strengthening the long-term legacy of Expo 2030 Riyadh and creating sustainable economic and urban value for Riyadh.  

Al-Habib described the project as a qualitative contribution to Expo 2030 Riyadh through the development of an experience befitting Riyadh and participants in the event, based on a real estate development model focused on quality planning, execution and operations and designed to create sustainable value extending beyond the Expo period. 

Expo Village was conceived from the outset with a vision extending beyond the duration of the Expo. After the event concludes, it will become an integrated residential community combining housing units, shops, restaurants, recreational and community facilities, as well as green public spaces and pedestrian-friendly pathways designed to facilitate mobility. 

Together, these elements will form a vibrant neighborhood within the broader development of northern Riyadh. 

The project’s design also takes climatic conditions into account and incorporates high-efficiency building systems to enhance its environmental and operational efficiency and ensure the long-term sustainability of the value it provides. 

Expo Village is the first joint venture to develop an integrated residential community within the Expo 2030 Riyadh master plan, with further residential projects to follow in line with plans to develop the sustainable legacy the site will leave for Riyadh after the event. 

Expo 2030 Riyadh will be held from Oct. 1, 2030, to March 31, 2031, under the theme “Foresight for Tomorrow” across five districts. Over six months, it will bring together 197 participating nations and is expected to attract more than 42 million visits from around the world.