Saudi Arabia has issued its first tender on multi-billion-dollar construction works of the Riyadh Expo 2030. The Expo 2030 Riyadh Company (ERC) has tendered the contract to construct the site offices as required. The company is responsible for delivering the venue that will be used in hosting the event. Furthermore, the tender is part of the initial construction works at the project site in Riyadh. MEED notes that construction works was tendered on 29 May, with bids due in the first week of July. The announcement follows the establishment of ERC as a wholly owned subsidiary. It is a subsidiary of the Public Investment Fund (PIF) that will build and operate facilities for Expo 2030 in June. In a statement PIF noted that the company is expected to have immense benefits and significance.
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Significance of the Riyadh Expo 2030 Construction Works
The significance of the Riyadh Expo 2030 construction works is expected to be immense, as noted by PIF. In a statement, the PIF said: “During its construction phases, Expo 2030 Riyadh and its legacy are projected to contribute around $64bn to Saudi GDP.” Furthermore, they noted that it is expected to generate approximately 171,000 direct and indirect jobs. Once operational, it is expected to contribute approximately $5.6 billion to Saudi Arabia’s GDP. The masterplan for Expo 2030 Riyadh encompasses an area of 6 square kilometres. This feat makes the site one of the largest designated for a World Expo. Situated to the north of the city, the expo site will be located near the future King Salman International airport.
The location will provide direct access to various landmarks within the Saudi capital. Countries participating in Expo 2030 Riyadh will also have the option to construct permanent pavilions. Furthermore, they will be able to contribute to the event’s legacy by leaving a significant landmark of their presence. This initiative is expected to create opportunities for business and investment growth in the region. The expo is projected to attract over 40 million visitors. Nonetheless, after the event concludes, ERC plans to convert the expo’s secured area into a global village, to serve as a multicultural centre for retail and dining. This development will also feature an international residential community with a range of amenities, with a focus on sustainable tourism practices.
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