The Public Investment Fund (PIF) has acquired a 30 percent stake in Masdar for Building Materials Company (Masdar), a leading local company specializing in the trading and distribution of building materials in Saudi Arabia.
PIF’s investment will enable Masdar to transform its operations through digital technology, enhancing the customer experience, and improving operational efficiency.
The investment will also allow the company to expand its operations, build new strategic partnerships, as well as increase the role of local suppliers and businesses in serving the building materials market.
Head of Construction and Building Materials – MENA Investments at PIF Ahmad AlGhamdi said that, “The investment in Masdar will contribute to reinforcing local supply chains by unlocking capabilities in the construction and building components and services sector, one of PIF’s strategic sectors. The investment will also support the development of the building materials distribution network, increase access to value-added services, and accelerate digital transformation through the adoption of the latest technologies and solutions. The investment also represents another step towards promoting partnerships with the private sector to develop strategic sectors and increase Saudi Arabia’s GDP.”
Faisal Al-Muhaidib CEO – Masdar Building Materials
“As a leading building and construction materials company in Saudi Arabia, we look forward to partnering with PIF to play a vital role in supporting the growth and development of the sector by scaling up our capabilities and meeting current and upcoming demand. The construction and building components and services sector is one of the most important and promising sectors in Saudi Arabia, and PIF’s investment will accelerate and unlock Masdar’s growth, enabling us to scale our capabilities and maintain our leading position by offering products via our exceptional distribution network.”
This investment reinforces PIF’s commitment to supporting the growth of strategic sectors in Saudi Arabia and achieving the goals of Saudi Vision 2030. The construction and building components and services sector is a priority sector due to its significant role in the economy.
PIF aims to solidify Saudi Arabia’s leading position in the construction and building components and services sector by promoting private sector participation to meet both current and future demand. Additionally, PIF aims to reinforce local supply chains, prioritize strategic products and services, and localize advanced technologies and expertise.
