The Public Investment Fund (PIF) has acquired a 30pct stake in Masdar for Building Materials Company (Masdar) by subscribing to newly issued shares through a capital increase.
PIF’s investment will help Masdar enhance its operations through digital technology, improve customer experience, and boost efficiency. It will also support the company’s expansion, foster strategic partnerships, and strengthen local supply chains in the building materials sector.
Masdar CEO Faisal Al-Muhaidib stated that the partnership with PIF will accelerate growth, scale capabilities, and reinforce the company’s leadership in Saudi Arabia’s construction and building materials industry.
PIF aims to strengthen Saudi Arabia’s position in the construction sector by increasing private sector participation, reinforcing local supply chains, and localizing advanced technologies, the company said in a statement.