Expo 2030 Riyadh and Mohammad Al Habib Real Estate Company (MAHR) have signed a SAR3.2 billion joint venture agreement to develop and deliver the Expo Village, the residential community for Expo 2030 Riyadh. The agreement marks 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 beyond the event.
Context and Background
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.
Key Details
The agreement was signed by Chief Executive Officer of Expo 2030 Riyadh Talal Al-Marri and Chief Executive Officer of Mohammad Al Habib Real Estate Company Abdullah Mohammad Al Habib, at the Expo 2030 Riyadh site, where development and construction works continue to advance at pace. The signing took place in the presence of 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 Saad Alkroud.
Commenting on the announcement, CEO of Expo 2030 Riyadh Al-Marri 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.”
CEO of MAHR Al Habib 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.”
Implications and Impact
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 neighborhood 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.
Vision 2030 Alignment
Expo 2030 Riyadh will take place from October 1, 2030, to March 31, 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. This joint venture aligns with Saudi Arabia’s Vision 2030 by promoting economic diversification, enhancing quality of life, and showcasing the Kingdom’s ability to host world-class events that leave a lasting legacy.
20 Questions
Q1. What is the Expo Village?
A1. The Expo Village is a purpose-built residential community for official participants and delegations during Expo 2030 Riyadh, designed to offer a convenient and comfortable living environment within a sustainable district.
Q2. Who signed the joint venture agreement?
A2. The agreement was signed by Talal Al-Marri, CEO of Expo 2030 Riyadh, and Abdullah Mohammad Al Habib, CEO of Mohammad Al Habib Real Estate Company (MAHR).
Q3. What is the value of the joint venture agreement?
A3. The joint venture agreement is valued at SAR3.2 billion.
Q4. How many residential apartments will the Expo Village have?
A4. The Expo Village will feature around 2,300 residential apartments.
Q5. What is the capacity of the Expo Village?
A5. The Expo Village will have the capacity to accommodate around 5,500 residents.
Q6. What amenities will the Expo Village offer?
A6. The Expo Village will offer retail and dining spaces, amenities, services, and operational facilities, along with landscaped public spaces and pedestrian-friendly streets.
Q7. How will the Expo Village be connected to the Expo site?
A7. The Expo Village will provide optimal connectivity through the Expo metro station, King Khalid International Airport, and Riyadh’s wider transport network.
Q8. When will Expo 2030 Riyadh take place?
A8. Expo 2030 Riyadh will take place from October 1, 2030, to March 31, 2031.
Q9. What is the theme of Expo 2030 Riyadh?
A9. The theme of Expo 2030 Riyadh is “Foresight for Tomorrow.”
Q10. How many official participants are expected at Expo 2030 Riyadh?
A10. Expo 2030 Riyadh is expected to bring together 197 official participants.
Q11. How many visits are expected at Expo 2030 Riyadh?
A11. Expo 2030 Riyadh is expected to welcome 42 million visits.
Q12. What will happen to the Expo Village after Expo 2030?
A12. After Expo 2030, the Expo Village will transition into an integrated residential community, contributing to the long-term legacy of Expo 2030 Riyadh.
Q13. Who is the CEO of Expo 2030 Riyadh?
A13. The CEO of Expo 2030 Riyadh is Talal Al-Marri.
Q14. Who is the CEO of Mohammad Al Habib Real Estate Company?
A14. The CEO of Mohammad Al Habib Real Estate Company is Abdullah Mohammad Al Habib.
Q15. What is the role of the Public Investment Fund in this project?
A15. Saad Alkroud, Head of Local Real Estate Investments at the Public Investment Fund, attended the signing as Chairman of the Executive Committee of the Board of Directors of Expo 2030 Riyadh Company.
Q16. How does this agreement benefit the private sector?
A16. The agreement reflects Expo 2030 Riyadh’s approach to building effective partnerships with the private sector, leveraging its expertise, capabilities, and investment as a strategic partner in delivery.
Q17. What sustainability features will the Expo Village include?
A17. The Expo Village will incorporate climate-responsive principles and efficient building systems to support long-term environmental and operational performance.
Q18. What is the significance of this agreement for Mohammad Al Habib Real Estate Company?
A18. For MAHR, this agreement represents a major milestone, allowing it to draw on over fifty years of experience to create a comprehensive residential project matching the significance of Expo 2030 Riyadh.
Q19. Will there be more residential developments as part of Expo 2030 Riyadh?
A19. Yes, 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.
Q20. How does this project align with Saudi Vision 2030?
A20. The project aligns with Vision 2030 by promoting economic diversification, enhancing quality of life, and showcasing Saudi Arabia’s ability to host world-class events that leave a lasting legacy.
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