Public Investment Fund accounts for 30% of the “Masdar Building Materials” company

Today, the Public Investment Fund accounts for 30% of a building materials company, one of the leading companies locally in the trade and distribution of building and construction materials, by increasing the company’s capital and subscribing to the fund in new shares.
The investment of public investments will enable the “Masdar” company to develop its operations through digital technical transformation, enhance the experience of customers, develop services and efficiency, expand its operations and build new strategic partnerships, and will also enhance the role of suppliers and local companies in meeting the requirements of the building materials market.

Promote supply chains

Ahmed Al -Ghamdi, Director of the Building and Construction and Construction Services Sector in the General Administration of Middle East and North Africa Investments – Public Investment Fund said: That the fund is aimed at focusing locally. “
He added: “Investment will contribute to developing the building materials store and construction, enhancing value -added services, and speeding up digital transformation using the latest technical solutions.”
He said: “Investment represents a step towards strengthening partnerships with the private sector with the aim of developing the strategic sectors to increase the Kingdom’s gross domestic product.”

Meet the growing demand

“In our capacity as a leading distributor for building and construction materials in the Kingdom, we look forward to partnership with the Public Investment Fund to contribute a vital role in supporting the growth and development of the sector by expanding the scope of our services throughout the Kingdom, and meeting the growing demand for material services Building and construction.
He added: “The sector is one of the most important sectors with a promising future in the Kingdom, and the fund’s investment will contribute to accelerating the pace of the company’s growth, and enabling it to expand the scope of its services and maintain its leadership through a distinct distribution network.”
This investment confirms the commitment of the Public Investment Fund to enable the growth and development of the strategic sectors in the Kingdom and support the achievement of the target of Saudi Vision 2030. The construction and construction materials sector is also one of the strategic sectors due to its vital role in the economy.
The Public Investment Fund seeks to consolidate the Kingdom’s leading position in the building and construction materials sector, enhance the participation of the private sector and investment to meet the current and future demand in this sector, in addition to strengthening local supply and supply chains, focusing on products and strategic services, and localizing the latest technologies and knowledge.