The Saudi Public Investment Fund (PIF) announced acquiring a 30% stake in Masdar Building Materials Company through a capital increase. This move strengthens PIF’s focus on the construction sector, a key pillar of Saudi Arabia’s economy under Vision 2030.
Transforming Operations with Technology
PIF’s investment will empower Riyadh-based Masdar to adopt advanced digital technologies, enhancing customer experience and operational efficiency. Furthermore, the partnership aims to expand Masdar’s operations and forge new strategic alliances with local suppliers.
Sector Growth
Ahmad Al-Ghamdi, PIF’s Head of MENA Construction Investments, emphasized the deal’s role in reinforcing local supply chains and accelerating digital transformation. “This investment unlocks sector capabilities and boosts GDP growth through private-sector collaboration,” he added.
Masdar CEO Faisal Al-Muhaidib highlighted the company’s readiness to scale operations and meet rising demand. “PIF’s backing will solidify our leadership via our unmatched distribution network,” he stated.
The acquisition underscores PIF’s commitment to developing strategic sectors and diversifying the economy. By prioritizing local supply chains and cutting-edge technologies, the fund aims to position Saudi Arabia as a regional construction leader.
Ongoing Private Sector Engagement
PIF strengthens Saudi Vision 2030 goals by strategically investing in Masdar and fostering private sector partnerships that boost economic growth. Moreover, the fund organizes its third Private Sector Forum over two productive days until 13 February, 2025, energizing industry experts.
Consequently, strategic investments like these consistently drive robust economic progress and create abundant opportunities across Saudi Arabia’s construction materials market.
