Expo 2030 Riyadh, Mohammad Al Habib sign $853m JV to develop Expo Village

Expo 2030 Riyadh and Mohammad Al Habib Real Estate Co. have signed a $853 million (SR3.2 billion) joint venture agreement to develop and deliver Expo Village in Riyadh.

The project will include around 2,300 residential units for approximately 5,500 residents, primarily official delegations participating in Expo 2030 Riyadh. It will also include retail and dining space, operational buildings and supporting facilities and services.

The agreement marks Expo 2030 Riyadh's first joint venture project as development and construction progress across the wider Expo site.

Expo Village to accommodate 5,500 residentsBold

Expo Village is planned as an integrated residential community for international participants attending the six-month event.

The development will have direct access to the Expo 2030 Riyadh site through the Expo station, with connections to King Khalid International Airport and Riyadh's wider transport network.

Expo 2030 Riyadh will provide strategic oversight and set the project's requirements. Mohammad Al Habib Real Estate will contribute its development, investment and operational expertise.

Expo 2030 Riyadh CEO Talal Al-Marri and Mohammad Al Habib Real Estate CEO Abdullah Mohammed Al-Habib signed the agreement at the Expo site.

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

Expo Village prepares for constructionBold

Al-Marri said

Expo Village represents an important step in implementing Expo 2030 Riyadh and reflects the organization's approach to working with the private sector, drawing on its expertise, capabilities and investment as a strategic implementation partner.

He added that as work accelerates across the Expo site, development of the infrastructure, services and facilities required by participants is also progressing.

Design and site preparation work is complete, moving the project into an advanced implementation stage and paving the way for construction to begin according to the approved schedule.

Al-Habib described Expo Village as a qualitative contribution to Expo 2030 Riyadh, based on a real estate development model focused on planning, execution and operations, with the aim of creating value beyond the Expo period.

Permanent residential community planned after ExpoBold

After Expo 2030 closes, Expo Village will become a permanent residential community with housing, shops, restaurants, recreational and community facilities, green public spaces and pedestrian routes.

The design responds to Riyadh's climatic conditions and includes high-efficiency building systems intended to improve environmental and operational efficiency.

Expo Village is the first joint venture for an integrated residential community within the Expo 2030 Riyadh master plan. Further residential projects are expected to follow.

Expo 2030 Riyadh will run from October 1, 2030, to March 31, 2031. The event is expected to bring together 197 participating nations and attract more than 42 million visits.