PIF launches new company to deliver Expo 2030 Riyadh
RIYADH, Saudi Arabia, June 19, 2025 /PRNewswire/ -- PIF today announced the launch of Expo 2030 Riyadh Company (ERC), wholly owned by PIF, to build and operate the facilities of Expo 2030 Riyadh – Saudi Arabia's first World Expo – as well as preserving the legacy of the event.
The masterplan for Expo 2030 Riyadh covers an area of 6 million square meters, making it one of the biggest World Expo sites. The Expo will be to the north of the city, near the future King Salman International Airport, and with direct connections to the Saudi capital's landmarks.
Expo 2030 Riyadh is projected to attract more than 40 million visits. After the Expo event, ERC plans to lead the transformation of the Expo's gated area into a global village to serve as a multicultural hub for retail, food and beverage, surrounded by an international residential community with world-class amenities, and setting new standards in sustainable tourism.
PIF continues with its strategic mandate: to achieve economic impact for Saudi Arabia while securing sustainable returns. PIF is one of the world's most impactful investors, driving Saudi Arabia's economic diversification while also enabling the creation of key sectors and opportunities that help shape the global economy. PIF leads the development of transformative giga-projects and landmark real estate initiatives across Saudi Arabia.
Saad Alkroud, Head of the Local Real Estate Investment Division at PIF said:"ERC benefits from PIF's diverse local and global ecosystem and the establishment of the company aligns with PIF's local real estate strategy, which drives economic transformation and diversification, advancing urban innovation and enhancing quality of life, driven by the ambitious goals of Saudi Vision 2030."
ERC is swiftly launching operations to fulfill its mandate, and will partner with the local and global private sector to achieve its goals for construction, cultural programming and event management.
Expo 2030 Riyadh runs from Oct. 1, 2030 to March 31, 2031 and will further strengthen the city's attractiveness to international businesses. It marks the city's status as one of the world's fastest-transforming capitals, one that combines sustainability, connectivity and quality of life at scale. Riyadh was awarded the hosting rights for Expo 2030 in November 2024, winning the vote in the first round.
During its construction phases, Expo 2030 Riyadh and its legacy are projected to contribute around $64 billion to Saudi GDP and generate approximately 171,000 direct and indirect jobs. Once operational, it is expected to contribute approximately $5.6 billion to GDP.
Countries participating in Expo 2030 Riyadh will have the option of building permanent pavilions and being part of the event's legacy. The Expo will provide opportunities for long-term business and investment growth.
This material is distributed by Teneo Strategy LLC on behalf of the PIF. Additional information is available at the Department of Justice, Washington, DC.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Korea Herald
7 hours ago
- Korea Herald
Dahon Founder Showcased New Lineup, Revolutionary Patented Bike Tech at Eurobike 2025
FRANKFURT, Germany, June 28, 2025 /PRNewswire/ -- Led by Dr. David Hon, Founder & CEO, DAHON unveiled a lineup of innovative new products at EUROBIKE 2025, drawing widespread attention with its DAHON 2.0 Campaign backed by its proprietary DAHON-V bike tech promising improved performance across all lines of products. The impressive product lineup attracted major industry figures such as executives from Giant and Golden Wheel Group, along with many of DAHON's European distribution partners. Major cycling media such as Global Cycling Network (GCN) Tech also grace the occasion to report on the product showcase. New Product Highlights K-Feather – Ultralight E-Bike With an ultra-compact design weighing just 12 kg, the K-Feather integrates a high-density hidden battery and torque sensor for up to 40 km of intelligent power output. Its minimalist design makes it a top choice for urban commuters, and a true fusion of technology and aesthetics. Télodon C8 AXS – Carbon Frame Folding Bike DAHON's first single-beam carbon fiber folding road bike features an exclusive internal V-fold mechanism that keeps its folded form as sleek and simple. Combined with patented DELTECH and Super Downtube, it offers enhanced frame stiffness and extended lifetime. Equipped with a SRAM AXS wireless shifting system and UDH, it ensures precise, stable performance at high speeds. Vélodon C8 Di2 – Carbon Frame Roadbike Designed with DAHON-V tech, featuring an aerodynamic frame design and Shimano Ultegra Di2 electronic shifting. Frame stiffness is increased by 20–30% compared to standard carbon road bikes, offering a powerful yet agile ride. DAHON Electric Lineup DAHON's electric lineup marks a new era in powered cycling. With five series ranging in size and use case, ranging from electric-assist bikes to mopeds, e-motorcycles and e-trikes. These smart, user-friendly features reflect DAHON's mission to make everyday mobility easier, smarter, and more enjoyable. Visit DAHON at Booth A12, Hall 12 during June 25 – 29, 2025.
Korea Herald
18 hours ago
- Korea Herald
CKGSB Dean Li Haitao Illuminates on China's AI Trajectory at 2025 Summer Davos
TIANJIN, China, June 27, 2025 /PRNewswire/ -- Cheung Kong Graduate School of Business (CKGSB) Dean and Dean's Distinguished Chair Professor of Finance Li Haitao spoke at the Annual Meeting of the New Champions 2025 of the World Economic Forum, widely known as Summer Davos, in Tianjin, China, for the second year in a row, a testament to the school's thought leadership and acknowledgement. This year's Summer Davos focused on entrepreneurship for a new era. As the most active Chinese business school this year at the Summer Davos, CKGSB contributed to the discourse on multiple meaningful topics including AI reshaping global competition and entrepreneurship in the new era. In the session broadcast live globally on June 26, "Understanding China's approach to AI," Dean Li joined leading voices to explore China's advantage in developing AI amid re-globalization, industrial possibilities brought by AI, and how AI can propel doing business for good by providing scarce resources. "Only two countries, China and the US, can lead AI revolution in the next decades," emphasized Dean Li. "China has done lots of accumulation for decades with infrastructure, data, talent, and market to establish a unique AI ecosystem. Beyond home appliances, smartphones, and automobiles, humanoid robots have the greatest potential to become a trillion-dollar industry in China. CKGSB aspires to systematically prepare business leaders for what the AI era requires for strategic architecture capabilities and new leadership skills." Moderated by renowned journalist Yang Lan, the panel also featured executives and scholars including Unitree Robotics Founder and CEO Wang Xingxing, Haier CEO Zhou Yunjie, USC Professor of Law Angela Zhang Huyue, and Workera Founder and CEO Kian Katanforoosh. In addition, Dean Li delivered a keynote speech at the session around Gen Z consumers. He noted that with Gen Z's robust purchasing power and authentic passion for eco-conscious consumption, and as more start to evaluate companies' sustainable commitment when making career decisions, companies must build a new collaboration structure where people at all levels get to affect decision making, contribute their own knowledge and jointly create value. Dean Li also participated at the Global University Leaders Meeting, discussing how higher education institutions should shape the future of research through partnerships and continue to serve as engines of innovation. CKGSB also co-hosted CKGSB's 2025 Davos Night in collaboration with Tencent's Tencent News.
Korea Herald
a day ago
- Korea Herald
GACB Sathorn Experience Center & GAC Thailand Battery Service Center Officially Open
BANGKOK, June 27, 2025 /PRNewswire/ -- On June 25, 2025, the grand opening ceremony of GACB Sathorn Experience Center & GAC Thailand Battery Service Center was held in the Sathorn district of Bangkok. As GAC's first flagship store in Southeast Asia, the opening of GACB Sathorn Experience Center elevates the consumer service experience in Thailand and marks the successful implementation of GAC's "Sales + Energy Services" dual-track strategy in the region. Representatives from the Thai government and major Thai media outlets attended and witnessed this historic moment. The day before the opening ceremony, GAC launched the upgraded global premium compact model, the AION UT, in Thailand as a gesture of appreciation to local consumers. Regarded as one of the most prominent models in Thailand's electric vehicle segment, the AION UT secured over 4,500 orders during this year's Bangkok International Motor Show. With its stylish design, cutting-edge technology, and high-standard quality, it offers a refined and forward-looking electric mobility experience tailored for young drivers and urban commuters across Thailand. With the opening of the GACB Sathorn Experience Center and the only BOI (Board of Investment of Thailand) approved battery service center in Thailand, GAC has established a comprehensive overseas expansion model under its "One GAC 2.0" strategy, seamlessly integrating products, intelligent manufacturing, channels, services, energy ecosystem, and mobility systems. Looking ahead, GAC aims to position GACB Sathorn as a flagship showroom not only for Thailand but also for the broader Southeast Asian region. Leveraging this important foothold, GAC will further expand its market layout in Southeast Asia, establishing a benchmark market with significant demonstration value.
