Saudi Arabia’s Public Investment Fund (PIF) has acquired a 30% stake in Masdar for Building Materials Company (Masdar) by subscribing to newly issued shares through a capital increase.
Ahmad AlGhamdi, Head of Construction and Building Materials – MENA Investments at PIF, stated, “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.”
This investment aligns with PIF’s strategy to support the growth of strategic sectors in Saudi Arabia and achieve the goals of Saudi Vision 2030. The construction and building components and services sector is a priority due to its significant role in the economy.
PIF aims to strengthen Saudi Arabia’s position in this sector by promoting private sector participation to meet current and future demand, reinforcing local supply chains, prioritising strategic products and services, and localising advanced technologies and expertise.
