The signing of the agreement
The Public Investment Fund (
PIF) announced the acquisition of a 30% stake in Masdar for Building Materials Co. (Masdar), a leading local company specializing in the trading and distribution of building materials, by way of subscribing to newly issued shares through a capital increase.
In an emailed statement to Argaam, the fund said that its 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.
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.
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