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Logo of Masdar for Building Materials Co. (Masdar)
The Public Investment Fund (PIF) announced today, Feb. 12, the acquisition of a 30% stake in Masdar for Building Materials Co., which specializes in the trading and distribution of building materials, by way of subscribing to newly issued shares through a capital increase.
Masdar is an affiliate of Al Muhaidib Group in the Kingdom. It was established in 1971 and operates in the trade and distribution of all types of building and construction materials. It specializes in distributing all types of steel and wood with a wide network of 105 stores spread across Saudi Arabia.
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This includes a wide range of building materials products that are used in the construction of buildings, homes, schools, hospitals, and more. Long and flat iron products, sawn timber, wood panels, decorations, plumbing materials, electrical materials, construction chemicals, hand tools, and insulating materials are among the products being offered by the company.
Masdar seeks to cater to all building and construction materials needs in Saudi Arabia. This is by providing its customers with the largest range of building and construction materials products with high quality and at competitive prices.
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Masdar’s Historical Development |
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Period |
Event |
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1970-1980 |
In 1970, Abdulkader Abdulmohsen Al Muhaidib and his son started trading in imported iron and cement from King Abdulaziz Port in Dammam to various stores in the surrounding areas. A year later, Abdulhamid Al Muhaidib moved to Riyadh and established his first branch for trading iron and cement, marking the inception of Al Muhaidib Building Materials Co. (Masdar). |
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1981-2002 |
The newly-established company began to expand by opening new locations Kingdom-wide and adding new products.
In 1981, a new company was established and called Al Muhaidib Carpentry Materials Co., specializing in importing and distributing hand tools, handles and door accessories.
In 1989, an architectural equipment department was established to cater to the needs of large-scale projects. |
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2003-2013 |
In 2003, the group entered the fasteners trade and manufacturing and distribution solutions by acquiring two manufacturing units and two trading units, merging them under the name Al Muhaidib Technical Supplies Co. The new company paved the way for greater capacities and services to the fasteners and panels for the oil and gas industry.
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2014-2022 |
In 2014, Abdulkader Al Muhaidib & Sons Co. merged the three companies to form Masdar for Building Materials Co., a closed joint stock company with a paid-in capital of SAR 400 million.
In 2017, Masdar opened its first major branch in construction stores, bringing the vision of a one-stop shop for all building and construction materials needs to life.
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2023 - present |
In line with the Saudi Vision 2030, Masdar decided to establish Masdar Services Co. for Industries to provide specialized industrial products and solutions.
Masdar currently operates four manufacturing units in Saudi Arabia to produce specialized fasteners, flat metal products, long iron products, and wood panel services.
Masdar is now a leader in the building materials and construction sector in the Kingdom by operating 105 branches in 29 cities with more than 80,000 items of long and flat iron products, sawn timber, wood panels, decorations, plumbing materials, electrical materials, adhesives, construction chemicals, hand tools and tools, door accessories, insulation materials, fasteners and electronic smart locks. |
Masdar’s strategy for the coming period is to continue expanding its product range, with an eye to boost its market share and target new segments of customers.
It is also working to strengthen the relationship with current suppliers and seek to tap new ones, in addition to enhancing modern systems and inventory management.
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