Bawan's Bina ready to develop homes with housing ministry, says CEO

Bina Holding is ready to cooperate with Saudi Arabia’s housing ministry to build residential units and implement new development projects across the Kingdom, chief executive Ahmed Al-Osaimi told Argaam in an exclusive interview on Wednesday.

A partnership with the housing ministry will help address a major challenge in the country by providing high-quality, affordable homes for Saudi nationals, Al-Osaimi said.

Tadawul-listed Bawan currently controls a 57.75 percent stake in Bina.

Over the last ten years, Bina has developed hospitals, administrative and industrial buildings, as well as mega residential complexes and shopping malls in coordination with private, governmental and quasi-governmental entities, he added.

Bina signed on August 15 a three-year memorandum of understanding (MoU) with the National Housing Co. to explore joint opportunities in the field of construction technology.

Both companies will work together to set up a joint construction technology project, implement housing development projects and establish housing units production plants.

Bina and National Housing Co. also plan to exchange technical expertise. 

Bina Holding is an Industrial Investment Group that includes five specialized companies that operate in Saudi Arabia and wider Gulf region.