PIF announces investments in four leading companies in Saudi Arabia’s construction services sector

PIF announces investments in four leading companies in Saudi Arabia’s construction services sector

- PIF invested a total amount reaching USD 1.3 billion by way of subscribing to new shares as part of the capital increases in each of Nesma & Partners Contracting Company, ElSeif Engineering Contracting Company, AlBawani Holding Company, and Almabani General Contractors Company

- The investment will enable the construction services sector to scale up capacity, expand capabilities, stimulate growth, drive the adoption of advanced technologies and improve local supply chains for current and future projects in Saudi Arabia

- The transactions are part of PIF’s strategy to support and enable key strategic sectors in Saudi Arabia, in line with Vision 2030

Riyadh, Saudi Arabia – The Public Investment Fund (“PIF” or the “Fund”) today announced an investment reaching USD 1.3 billion by way of subscribing to new shares as part of the capital increases representing significant minority stakes, in four leading local construction companies: Nesma & Partners Contracting Company, ElSeif Engineering Contracting Company, AlBawani Holding Company, and Almabani General Contractors Company. The investment will contribute to enabling the construction services sector and improving local supply chains for current and future projects in Saudi Arabia as part of further developing the country’s construction ecosystem.

The four companies in which PIF has invested have built