EXPO 2030 Riyadh Saudi Arabia

The eagerly anticipated Expo 2020, hosted in Dubai, has left an indelible mark on the city's real estate market. As the event unfolded, it brought not only an influx of visitors but also a seismic shift in the real estate landscape. Investors looking to capitalize on the EXPO 2030 that will be hosted in Riyadh Saudi Arabia must be well-informed. This article delves into the profound impact of Expo 2020 on Dubai's real estate market and offers valuable insights for prospective investors about the future real estate opportunities in Riyadh Saudi Arabia.

Expo 2020: A Transformative Event

Dubai's Expo 2020 was a vision of grandeur, showcasing the best of human innovation, culture, and technology. The sprawling site hosted an array of pavilions representing different countries, attracting millions of visitors from around the world. The Riyadh Expo 2030 will be held near King Salman International Airport, which is currently being developed, making it easily accessible for visitors arriving in the city. The location is around 20 minutes car drive from the city center. Visitors can reach the exhibition site within minutes using the Riyadh Metro network, which runs through all parts of Riyadh city and connects to one of the three exhibition entrances and the modern road network.

So, what impact is Dubai Expo having on the real estate market now?

The 'Expo effect' is the 5-year period before and after the event finishes. It's used to describe the continued positive impact that Expo normally has on the host country's economy after the event ends. Of course, this includes the continued growth of the real estate market due to the expected influx of visitors and investors. 

Over the last five years, Dubai has been on a growing spree. The UAE is unique as it is one of the only Expo hosts in a newly developed country. Most previous Expo host countries, except Shanghai, have been 'older' developed countries. The UAE, in comparison to past Expo hosts, therefore, has more to develop and so this trend is not unexpected. Milan, Shanghai & Dubai, all previous Expo hosts, saw an increase in property prices before and after the event despite a slowdown in the economy globally. Riyadh is expected to follow this trend. 

The UAE's visa regulations have eased, especially for freelance workers and those looking to retire in the country. The Expo gives the UAE an opportunity to showcase not only its ability to conduct a world-class event but also to show tourists and businesses why they should invest in the UAE. Saudi Arabia is following similar steps and is easing their visa restrictions by introducing Saudi Premium Residency which is very similar to the Dubai Golden Visa to attract business, executive, CEO's, professionals and expats into the country.

What will EXPO 2030 mean for Saudi Arabia?

Saudi Arabia winning the bid, it will spell untold tourism, business, and innovation prospects for the Kingdom. "Aligned with Vision 2030, Saudi Arabia aims to diversify its economy, moving away from oil dependency to sectors like tourism, entertainment, and finance. Giga projects, such as futuristic cities NEOM and infrastructure developments like the Riyadh Metro reflect the nation's commitment to transformation. And winning the hosting rights of Expo aligns with showcasing Saudi Arabia's progress globally and sets the foundation for Vision 2030.The Kingdom's GDP growth, driven by non -oil sectors, earned it the highest growth rate among G20 countries in 2022 and 2023. This coupled with the Expo, positions Saudi Arabia as a regional and international hub for commerce, culture, innovation, and investment.

The USD$7.8 billion Expo budget and a $1 trillion commitment to investments in energy, transportation, logistics, clean energy, and technology further demonstrate Riyadh's determination. The Expo bid not only enhances Saudi Arabia's international standing, but also propels Riyadh into becoming one of the world's top ten largest city economies. The transformative momentum, driven by innovative and eco-friendly initiatives, promises economic growth, job opportunities, and increased demand in the property market, shaping a dynamic future for Saudi Arabia.

'An extraordinary opportunity'

Hosting the Expo 2030 in Riyadh necessitates substantial infrastructure enhancements and investment in transportation, accommodation, exhibition centers. Moreover, public amenities will create job opportunities and bolster the country's construction sector. These developments will leave a lasting legacy, improving connectivity and accessibility long after the Expo concludes. One of the key factors contributing to the Expo's impact on real estate was the extensive infrastructure development undertaken to support the event. The construction of new roads, bridges, and public transport networks not only improved accessibility but also enhanced connectivity to various parts of the city.

The Expo is a magnet for international visitors. The influx of tourists and business travelers will drive growth in the hospitality sector, leading to increased demand for hotels, restaurants, and various tourism-related services. This surge in tourism will not only generate revenue during the Expo, but also stimulate long-term growth in the hospitality industry.

Expo 2030 Riyadh will create a surge in job opportunities across various sectors, including real estate. The event necessitated the hiring of construction workers, architects, engineers, property managers, and other professionals. The increased job opportunities led to population growth and an influx of expatriates, further driving the demand for residential real estate. The subsequent economic growth boosted the overall real estate market, attracting more investments and fueling development projects.

As Expo 2020 Dubai approached, anticipation and excitement grew, resulting in an upsurge in demand for properties across Dubai. This increased demand, coupled with limited supply, led to a rise in property prices. Investors and homebuyers sought to capitalize on the potential for significant returns on their investments, thereby driving up prices in both the primary and secondary real estate markets. Expo 2030 in Riyadh is expected to have the same effect on property prices in Riyadh. There is a huge opportunity for investors looking to capitalize on the current lower market prices with the expected capital appreciation during and post EXPO 2030. Many foreign investors and corporations have started purchasing residential apartments units in Riyadh, with plans on holding them for 5 years and selling them closer to Expo 2030.

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