Saudi Arabia Promises to Host 'Best Expo in History'

 Prince Faisal bin Farhan and Princess Rima bint Bandar, in Paris on Tuesday (AP)
 Prince Faisal bin Farhan and Princess Rima bint Bandar, in Paris on Tuesday (AP)
TT

Saudi Arabia Promises to Host 'Best Expo in History'

 Prince Faisal bin Farhan and Princess Rima bint Bandar, in Paris on Tuesday (AP)
 Prince Faisal bin Farhan and Princess Rima bint Bandar, in Paris on Tuesday (AP)

Representatives of the 170 member-states of the Bureau International des Expositions (BIE) gathered in Paris on Tuesday for the announcement of the findings of Enquiry Missions carried out by the BIE to assess the candidature projects for World Expo 2030.

The member-states voted to retain the three projects that were considered by the Executive Committee of the BIE to be viable and in line with BIE regulations. Those included Saudi Arabia, Italy and South Korea.

The Saudi Arabian delegation, led by the Foreign Minister Prince Faisal bin Farhan, presented a dynamic plan and philosophy for Saudi Arabia’s ambition to host the Expo 2030, under the theme “The Era of Change: Together for a Foresighted Tomorrow”.

The team included the CEO of the Royal Commission for Riyadh City, Ibrahim Al-Sultan, the Director of Landscape Architecture, Lamia al-Muhanna, Senior Director of Creative Arts, Architect Nouf al-Moneef, Minister of Investment Khalid al-Falih, and the Kingdom’s Ambassador to the US, Princess Reema Bandar Al-Saud.

Speaking on the occasion, Foreign Minister Prince Faisal bin Farhan expressed gratitude to the General Assembly president and the BIE Secretariat for their dedicated efforts.

Emphasizing the Kingdom’s unique global position, which connects north to south and east to west, Bin Farhan linked Saudi Arabia’s Expo 2030 bid to Vision 2030 and expressed the country’s ambition to create a prosperous and sustainable future.

He also announced that Saudi Arabia offered a $343 million facilities package designed to assist 100 eligible countries in areas like pavilion construction, maintenance technologies, travel events, and more.

For his part, Ibrahim Al-Sultan, CEO of the Royal Commission for Riyadh City, stressed Saudi Arabia’s capabilities to fulfill its commitments, noting that Riyadh planned to host 120 million visitors in 2030.

He also expressed confidence in Riyadh’s ability to deliver an “unprecedented world expo”.

In his speech, the minister of Investment noted that the investment opportunities within the framework of Expo 2030 would be excellent and integrated with the investment climate in Saudi Arabia.

Princess Rima bint Bandar said that her country was “committed to holding the best version in history of a world exhibition,” pointing to the Kingdom’s tourism, natural, cultural, historical and human capabilities.

The Saudi delegation did not forget to remind of the major ongoing projects in the Kingdom, including NEOM, Qiddiya, Misk City, the Red Sea projects, and the Cube.

On Monday evening, the Royal Commission for Riyadh City hosted a celebration at the Grand Palais Ephémère, in the heart of Paris, in the presence of Crown Prince Mohammed bin Salman.

The event provided an opportunity to present the Kingdom’s plan, and to share its story of the unprecedented national transformation.

On this occasion, Prince Mohammed bin Salman met with the Secretary-General of the BIE, Dimitri Kerkentzes, with whom he reviewed the Kingdom’s bid to host Expo 2030. The meeting was attended by Prince Faisal bin Farhan, Ibrahim Al-Sultan, and the Kingdom’s Ambassador to France, Fahd Al-Ruwaili.

A member of the French delegation, which participated in the BIE General Assembly, told Asharq Al-Awsat that the Saudi presentation was “unique”, adding that Riyadh “deserves to host the exhibition.”

During the 173rd General Assembly of the BIE in November 2023, the member-states will elect the host country of World Expo 2030 via secret ballot on the principle of one country, one vote.



Saudi Homeownership Rate Approaches 2030 Target

 A project of the Saudi Ministry of Municipalities and Housing (Asharq Al-Awsat)
 A project of the Saudi Ministry of Municipalities and Housing (Asharq Al-Awsat)
TT

Saudi Homeownership Rate Approaches 2030 Target

 A project of the Saudi Ministry of Municipalities and Housing (Asharq Al-Awsat)
 A project of the Saudi Ministry of Municipalities and Housing (Asharq Al-Awsat)

Saudi Arabia is steadily progressing toward achieving its housing program targets under Vision 2030, with homeownership rates among Saudi families reaching 63.7% in the past year. This marks a significant step toward the program’s goal of 70% homeownership by the end of the decade.
According to a recent report from the Ministry of Municipal and Rural Affairs and Housing, more than 205,000 off-plan housing units were licensed and launched in 2024, with over 60,000 units delivered. Additionally, Sakani, the government’s housing initiative, made 165,000 plots of land available, allowing beneficiaries to build homes tailored to their future needs.
To support low-income families, the ministry provided over 50,000 housing units, reinforcing its commitment to sustainable social housing solutions. Efforts continue to diversify options and create integrated residential communities that meet citizens’ needs. The Real Estate Development Fund (REDF) deposited SAR 11.9 billion ($3.1 billion) into the accounts of Sakani beneficiaries last year. The program offers digital services that help recipients customize their housing support and select optimal financing solutions.
By the end of 2024, more than 122,000 families had benefited from Sakani’s housing support services. The “Your Installment is Your Support” program, which offers flexible payment options for off-plan and self-construction homes, recorded 2,700 beneficiaries. Additionally, 107,000 housing finance contracts were signed, demonstrating the continued growth of the sector. Financing solutions with a reduced interest margin of 2.59% were provided to over 22,000 Sakani beneficiaries in the low-income category. Meanwhile, nearly 962 beneficiaries received subsidized installment plans, and 59,000 low-income families secured government-supported mortgage loans. In total, Sakani provided approximately 70,000 financing packages for off-plan, ready-built, and self-construction homes.
In its latest quarterly report, Sakani outlined key initiatives aimed at enabling Saudi families to own their first home. The program continues to expand housing options and financial solutions to improve homeownership rates, enhance citizens’ quality of life, and align with Vision 2030 housing objectives. The report highlighted a variety of financial solutions used by families in late 2024, including off-plan units, self-construction, ready-built homes, and land support programs. By year-end, more than 107,000 financing contracts had been signed, with nearly 58,000 benefiting low-income families.
To cater to different financial needs, Sakani offers a range of customized financing solutions, including financial support packages, down payment assistance, in-kind support, reduced financing margins, affordable mortgage plans, flexible installment options, and mortgage guarantee programs.