Alturki Holding’s pioneering role in Saudi’s infrastructure transformation by unlocking growth via PIF programs
Introduction:
For over 40 years, Alturki Holding has been instrumental in shaping the everyday experiences of Saudi citizens, from premium residential communities to efficient road infrastructures and innovative healthcare solutions. Their unwavering commitment to Saudi Arabia's comprehensive and sustainable development is further strengthened by the new opportunities driven by PIF programs for the private sector.
Private Sector Partnership:
PIF’s programs for the private sector were pivotal to help expand Alturki Holding companies, for example, Nesma & Partners, which is a flagship business within family-owned Alturki Holding, and the country’s leading contracting company. Nesma & Partners was one of four leading domestic construction companies chosen by PIF as part of a $1.3 billion investment by way of subscribing to new shares as part of the capital increase. The investments will help increase private sector local content, contribute to growing Saudi Arabia’s gross domestic product (GDP), enhance supply chains and increase the construction services sector’s competitiveness. Additionally, PIF’s investment aims to unlock the sector’s capabilities by scaling up capacity, expanding capabilities as well as creating investment opportunities for the local private sector in current and future projects.
Impact and Value Creation:
The investment will enable the construction services sector to scale up capacity, expand capabilities, stimulate growth, drive the adoption of advanced technologies and improve local supply chains for current and future projects in Saudi Arabia. Further, it will enable the regional and international expansion of the companies’ operations, drive increased adoption of the latest technologies and the transfer of knowledge from global EPC (engineering, procurement, and construction) companies and help attract top talent, locally and globally.
PIF's varied initiatives for the private sector, including the Local Content Growth Program MUSAHAMA, Suppliers Development Program, and Private Sector Hub, are driving Saudi's economic reforms. Further, by ways of strategic investments and initiatives, PIF is driving sustainable growth of private sector companies along with jobs creation.