Learn about PIF's 30%-owned Masdar

Masdar’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. 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).

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.

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.

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.

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.