In Brief: Expo 2030 Riyadh and Mohammed Al Habib Real Estate Company have entered a 3.2 billion SAR joint venture agreement to develop and deliver the Expo Village, signaling significant hospitality and real estate investment tied to the upcoming international exposition.
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Rendering of the Expo Village, the residential community for Expo 2030 Riyadh – Image Credit MAHR
Expo 2030 Riyadh and Mohammed Al Habib Real Estate Company (MAHR) have signed a 3.2 billion SAR joint venture agreement for the development and delivery of the Expo Village, the residential community for Expo 2030 Riyadh. The agreement represents the first joint venture milestone for Expo 2030 Riyadh and reinforces its commitment to partnering with the private sector to unlock economic opportunities and create lasting value, both in the lead-up to the Expo and well beyond the event itself.
The Expo Village will provide purpose-built accommodation for Official Participants and delegations within a fully integrated sustainable district. Designed to offer a convenient and comfortable living environment, the Village will support international participants throughout their stay and enable the smooth operation of their presence at Expo 2030 Riyadh. Featuring around 2,300 residential apartments with capacity to accommodate around 5,500 residents, the development will be supported by a range of retail and dining spaces, amenities, services and operational facilities, and will provide optimal connectivity to the Expo 2030 Riyadh site through the Expo metro station, King Khalid International Airport and Riyadh’s wider transport network.
The agreement was signed by Talal Al-Marri, Chief Executive Officer of Expo 2030 Riyadh, and Abdullah Mohammed Al Habib, Chief Executive Officer of Mohammed Al Habib Real Estate Company, at the Expo 2030 Riyadh site, where development and construction works continue to advance at pace.
The signing took place in the presence of Saad Al-Kroud, Head of Local Real Estate Investments at the Public Investment Fund, and Chairman of the Executive Committee of the Board of Directors of Expo 2030 Riyadh Company.
Commenting on the announcement, Talal Al-Marri, CEO of Expo 2030 Riyadh, said: “The Expo Village represents an important step in the delivery of Expo 2030 Riyadh and reflects our approach to building effective partnerships with the private sector, leveraging its expertise, capabilities and investment as a strategic partner in delivery. As implementation accelerates and work progresses across the Expo 2030 Riyadh site, we continue to develop the infrastructure, services and facilities required to meet the needs of official participants.
Through this agreement with Mohammad Al Habib Real Estate Company, the Expo Village is moving into an advanced stage of delivery, following the completion of design and site preparation works, paving the way for construction to begin in line with the approved schedule. The Expo Village will provide international participants with a high-quality, integrated residential environment during the event, before transitioning into a permanent residential community after Expo. In doing so, it will contribute to the long-term legacy of Expo 2030 Riyadh and create lasting economic and urban value for the city of Riyadh.”
Abdullah Mohammed Al Habib, CEO of MAHR, said: “This agreement represents a major milestone for Mohammad Al Habib Real Estate. We are proud to support the preparedness of Expo 2030 Riyadh and to draw on over fifty years of experience to create a comprehensive residential project that matches the significance of this international event.”
He added: “We see this project as a unique addition to Expo 2030 Riyadh, offering an experience deserving of the city and its visitors. It is based on a real estate development approach focused on high standards in planning, execution, and operations, ensuring lasting value that continues long after the exhibition ends.”
Designed from the outset for long-term use, the Expo Village will transition into an integrated residential community. Its mix of homes, retail, dining, leisure and community facilities, together with landscaped public spaces and pedestrian friendly streets, will support an active neighbourhood within the wider development of northern Riyadh. The development has been designed to incorporate climate-responsive principles and efficient building systems, to support long-term environmental and operational performance.
The Expo Village is the first residential development for which Expo 2030 Riyadh has signed a joint venture agreement, with further residential developments expected to follow as part of the Expo’s Legacy phase.
Expo 2030 Riyadh will take place from 1 October 2030 to 31 March 2031 under the theme “Foresight for Tomorrow.” The six-month World Expo is expected to bring together 197 Official Participants and is expected to welcome 42 million visits.
About Expo 2030 Riyadh
Running from 1 October 2030 to 31 March 2031, Expo 2030 Riyadh will be among the most ambitious World Expos ever conceived with a 6 million square meter site that will bring together 197 Official Participants and is expected to welcome 42 million visits across 5 distinct districts.