Saudi's PIF to invest $1.3 billion in 4 leading construction firms to improve GDP

Posted on February 17, 2023   |  

The Saudi Sovereign Wealth Fund PIF (Public Investment Fund) will invest $1.3 billion in 4 leading local construction companies, as part of a capital increase through the subscription of new shares.

The 4 companies are Nesma & Partners Contracting Company, ElSeif Engineering Contracting Company, AlBawani Holding Company, and Almabani General Contractors Company.  

These companies built a successful track record in executing and managing complex large-scale projects across multiple sectors in various regions of Saudi Arabia. 

The investments will increase private sector local content, contribute to growing Saudi Arabia’s gross domestic product (GDP), improve supply chains, and increase the construction services sector’s competitiveness.