SENAAT plans to expand, list 3 subsidiaries on Tadawul: Chairman

Abdullah Al Zamil, Chairman of Advanced Building Industries Co.

Advanced Building Industries Co. (SENAAT) plans to list three subsidiaries – in insulation, steel, and air-conditioning segments – on the Saudi Exchange (Tadawul), Chairman Abdullah Al Zamil said.

He added that discussions are underway with executive management teams to determine the appropriate timing for the initial public offerings (IPOs).

In an interview with Asharq News, Al Zamil pointed out that the company expects to maintain profitability in the third quarter, alongside expansion in market share. He noted that the company currently holds the largest market share in steel and air conditioning products, particularly central AC systems, steel structures, and insulation materials. In addition, the company plans to boost its presence in both local and regional markets.

Speaking to CNBC Arabia, Al Zamil noted that 70% of the company’s revenue is generated from the Saudi market, while 30% comes from international operations. He emphasized that strong demand for steel in the Kingdom supports the company’s expansion plans in the coming period.

The Chairman further explained that the local market is witnessing a growing demand for steel products, especially in relation to mega-projects supported by the Public Investment Fund (PIF) as well as both the public and private sectors. He highlighted that the company’s current order book reflects significant growth across the industrial, commercial, petrochemical, and gas sectors.

SENAAT has a clear strategy to expand across the steel, air-conditioning, and insulation segments, Al Zamil said, noting strong demand for the company's products in all markets it operates in, currently nearly 90 markets worldwide. The company has a strong footprint in several countries, including the Gulf region, Egypt, India, and Vietnam.

He added that the company operates two manufacturing facilities in Egypt, which serve the entire African continent and Southern Europe. Additionally, the firm is studying the possibility of establishing a new plant in southern India to meet growing demand across Asian markets.

Commenting on SENAAT’s recent rebrand, Al Zamil highlighted that the move aims to reflect its industrial identity following a century of operations, and to separate it from the family holding company that carries the Zamil name. This is also intended to enhance the company’s flexibility in forging new global partnerships.