Expo 2030 Riyadh and Mohammed Al Habib Real Estate Company (MAHR) have signed a joint venture agreement worth SAR 3.2 billion, roughly €733 million, to develop and deliver the Expo Village. This residential community, designed to accommodate official participants and delegations of Expo 2030 Riyadh, marks the first real estate partnership entered into by the organising entity with the private sector.
The agreement was signed at the Expo 2030 Riyadh site by Talal Al-Marri, CEO of Expo 2030 Riyadh, and Abdullah Mohammed Al Habib, CEO of Mohammed Al Habib Real Estate Company, in the presence of Saad Al-Kroud, head of local real estate investments at the Public Investment Fund (PIF) and chairman of the executive committee of Expo 2030 Riyadh Company’s board of directors. The PIF is the majority shareholder of Expo 2030 Riyadh, overseeing its real estate rollout as part of the broader Vision 2030 strategy.
A site designed for a dual life, event-driven then residential
The Expo Village is expected to comprise around 2,300 apartments, with capacity for approximately 5,500 residents. The scheme also includes retail and dining space, amenities, services and operational facilities designed to support the smooth running of international delegations’ participation.
Connectivity was built into the design from the outset: the Expo Village will have direct access to the dedicated Expo metro station, King Khalid International Airport and Riyadh’s wider transport network. This urban integration is intended to enable a seamless transition between the event’s operational phase and the neighbourhood’s permanent residential life, as part of the wider development of northern Riyadh.
“The Expo Village represents an important milestone in the delivery of Expo 2030 Riyadh and reflects our approach of building effective partnerships with the private sector, drawing on its expertise, capabilities and investment as a strategic delivery partner,” said Talal Al-Marri. He noted that the agreement allows the project to enter “an advanced delivery phase, following the completion of design and site preparation works, paving the way for construction to begin in line with the approved schedule.”
A first milestone, with further residential developments to follow
Expo 2030 Riyadh states that the Expo Village is the first residential development for which a joint venture has been signed, with further residential projects expected to follow as part of the Expo’s so-called “Legacy” phase. The overall exhibition site covers 6 million square metres and is expected to welcome 197 official participants and close to 42 million visits between 1 October 2030 and 31 March 2031, under the theme “Foresight for Tomorrow.”
For MAHR, Abdullah Mohammed Al Habib described the agreement as “a major milestone” for the family-owned company, founded in 1972 and boasting more than fifty years’ experience in Saudi real estate development. “We see this project as a unique contribution to Expo 2030 Riyadh, delivering an experience worthy of the city and its visitors,” he added, emphasising a development approach focused on the quality of planning, execution and operations.
A signal to investors active in the Saudi market
The project forms part of a broader real estate and hospitality investment momentum in Saudi Arabia, where the sector’s growth is attracting a rising number of international investors. Expo 2030 and the FIFA World Cup 2034 are among the catalysts identified by market players as likely to support hotel and residential demand in the Kingdom in the years ahead.
Designed according to climate-responsive principles and efficient construction systems, the Expo Village is also expected to meet long-term environmental and operational performance targets. Its transformation, once the event concludes, into an integrated residential neighbourhood combining housing, retail, dining, leisure and community facilities makes it a textbook case of post-event operations linked to the major international gatherings hosted by the Kingdom.
At a glance by The Hospitality Tribune
Expo 2030 Riyadh and Mohammed Al Habib Real Estate sign JV for Expo Village
Deal value: SAR 3.2 billion (approx. €733 million)
Scope: around 2,300 residential apartments, capacity for approx. 5,500 residents
First residential JV signed by Expo 2030 Riyadh; more legacy developments to follow
Connectivity: Expo metro station, King Khalid International Airport, Riyadh transport network
Timeline: Expo 2030 Riyadh runs 1 October 2030 to 31 March 2031, 197 official participants expected
