SAR 3.2 Billion Development Agreement Signed for Expo Village in Riyadh, Saudi Arabia, Planning 2,300 Residential Units

en.Wedoany.com Reported - On September 14, Expo 2030 Riyadh signed a SAR 3.2 billion joint venture development agreement with Mohammad Al Habib Real Estate Company to jointly build the Expo Village residential community for Expo 2030 Riyadh. The project plans approximately 2,300 apartments and can accommodate about 5,500 residents. Design and site preparation work have already been completed, and the next phase will proceed to construction according to the established plan.

Expo Village will serve as the main accommodation community for Expo official participants and delegations. In addition to residential units, it will also feature retail, dining, leisure, community services, and operational facilities, and will include landscaped public spaces and pedestrian-friendly internal roads. The project's transportation system will connect to the Expo Metro Station, King Khalid International Airport, and other urban transportation networks in Riyadh.

This agreement is the first residential joint venture development agreement signed by Expo 2030 Riyadh. The project adopts a long-term operational approach and will not be demolished after the Expo ends; instead, it will be converted into a permanent residential community in northern Riyadh. Expo 2030 Riyadh stated that it also plans to advance other residential projects during the Expo legacy development phase.

The planned site area for Expo 2030 Riyadh is approximately 6 million square meters, with the event running from October 1, 2030, to March 31, 2031, and an expected 197 official participants. Expo Village is the accommodation and urban supporting project within the entire Expo site construction system. This SAR 3.2 billion agreement moves the project from the design and site preparation phase into the formal pre-construction development execution phase.