Al Akaria’s BINYAH hires SNB Capital to advise on potential Tadawul IPO

Fahad Al Mesfir, CEO of Saudi Real Estate Infrastructure Co. (BINYAH)

Saudi Real Estate Infrastructure Co. (BINYAH) signed a strategic advisory agreement with SNB Capital to consider future plans and growth opportunities, including a potential listing on the Saudi Exchange (Tadawul), according to BINYAH CEO Fahad Al Mesfir.

The IPO aims at preserving growth and building the company’s investment and competitive capabilities, Al Mesfir explained in a phone interview with Al Ekhbariya TV.

BINYAH, a subsidiary of Saudi Real Estate Co. (Al Akaria), was founded in 2017 as one of the national companies specializing in infrastructure development. Al Akaria owns 60% of the company, and Mohammed Al-Ali Al-Swailem for Trading and Contracting Co. (MASCO) owns 40%, According to data available on Argaam.

BINYAH specializes in the construction of roads, streets, sidewalks, road accessories, bridges, and tunnels, as well as the extension of oil and gas pipelines and the construction of water distribution stations and main lines.

The company also builds sewage stations and projects, sewage networks and pumps, port berths, and marine structures. This is in addition to building demolition and removal, as well as the preparation and processing of drilling, leveling, and network extension sites.

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