Press Release

Mayar Holding Company signed a supply and installation contract for 702 Fuji elevators with the National Housing Company on 03/11/2022, through the Fuji Saudi Arabia for Elevators & Escalators Co. - one of Mayar Holding companies - to be manufactured in the company’s factories in the Kingdom of Saudi Arabia in Jeddah And this is for the (Rawa) Mursea 2 project, located in the north of Riyadh, with a contract value of more than 55 million riyals, provided that the entire elevators will be supplied and delivered during the year 2023.

It is worth noting that Mayar Holding Company has concluded a strategic partnership contract with the National Housing Company on 06/30/2022 to fix the prices of services for the supply and installation of elevators and escalators for the projects of the National Housing Company and its subsidiaries.

This step comes within the framework of Mayar Holding Company's promotion of its economic diversification, based on its career as one of the leading national companies in the field of industrial investment inside and outside the Kingdom, and to provide high quality products and services to build a good and long-term relationship with its clients, whether in the private or government sectors due to the company possesses national expertise and competencies and obtains the necessary approvals from several agencies, whether governmental, semi-governmental or private sector companies, as the company owns the first factory for elevators and escalators in the Middle East and the Gulf countries.

And in line with our rational government’s policy to enhance local production and support the “Made in Saudi Arabia” program in the national industry and logistics services, which aims to stimulate national industries and encourage consumers from government and semi-governmental agencies to purchase local goods, so the company’s management is keen to support the developmental renaissance In our dear country, in line with the objectives of Vision 2030 to localize the national industry with the support and care of the Custodian of the Two Holy Mosques, may God protect him, and the vision of His Highness the Crown Prince for the future of this great country.

It should be noted that Mayar Holding Company has appointed Amwal Financial Company on 07/08/2022 as a financial advisor to qualify the company and list its shares in the parallel market “Nomu” and explained that the targeted listing will be subject to obtaining regulatory approvals from the Capital Market Authority and Tadawul Company. Saudi Arabia.

 For his part, Eng. Abdulmajed Bin Abdulmohsen Al Sheikh, CEO of Mayar Holding Company, said that this step is of great importance to the company, which aspires to be one of the leading companies in the field of industrial investment in the region, especially after the success of the private placement that took place at the beginning of the year. 2022 to raise the company's capital from 5 million riyals to 60 million riyals, as its listing in the financial market will support its expansion plans in the coming period.