Private capital joins Expo 2030 Riyadh with SAR 3.2 bn JV

Expo 2030 Riyadh is bringing private capital into its development pipeline, signing a SAR 3.2 bn joint venture with Mohammed Al Habib Real Estate to develop Expo Village, according to a press release. The village will include around 2.3k residential units with capacity for roughly 5.5k residents, alongside retail, dining, amenities, and services. The agreement reflects a push toward “building effective partnerships with the private sector,” Expo 2030 Riyadh CEO Talal Al Marri said.

Built for Expo, but designed to stay: The village is designed to serve the six-month event and retain its value after it closes. “The project is conceived as a new district of Riyadh — a destination for the city and for future generations — built around a high-quality public realm: shaded, climate-responsive, walkable, and connected to nature,” Executive Director and Head of Design Giovanna Carnevali said on LinkedIn.

The war is shaping procurement: Expo 2030 Riyadh Company (ERC) is leaning harder on local suppliers as the US-Iran conflict squeezes Saudi supply chains. Delivery manager Bechtel has increased procurement of Saudi-made pipes, cabling, and concrete and brought orders forward to hedge against potential disruption around the Strait of Hormuz.

REMEMBER- The project is still in its infrastructure phase — infrastructure awards are already moving ahead. ERC awarded two contracts worth a combined SAR 1.5 bn in April, including the third lot of the site’s infrastructure package covering utilities, roads, and EV charging infrastructure.