Learn about PIF's 30%-owned Masdar

Company's Historical Development

Period

Event

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. One year later, Abdulhamid Al-Muhaidib moved to Riyadh and established his first branch for trading iron and cement. This was the beginning of Al-Muhaidib Building Materials Co. "Masdar".

1981-2002

The newly established company began to expand by opening new locations within the Kingdom and adding new products.

-In 1981, a new company was established under the name of Al-Muhaidib Carpentry Materials Co., which was specialized in importing and distributing hand tools, handles and door accessories.

-In 1989, an architectural equipment department was established to supply the needs of large projects.

2003-2013

In 2003, the group entered the fasteners trade and manufacturing and distribution solutions by acquiring two manufacturing units and two trading units and unifying them under the name Al-Muhaidib Technical Supplies Co. The new company added greater capabilities and services to the fasteners and panels for the oil and gas industry.

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 to achieve the vision of a one-stop shop for all building and construction materials requirements.

2023 - present

In line with 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 the Kingdom 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.