Riyadh – Mubasher: The National Building and Marketing Company has begun procedures to establish three closed joint-stock companies based in Riyadh that operate in the fields of education, information technology, and medical supplies.
The first firm will specialise in the establishment of international and private schools, educational institutes, and training centres at a capital of SAR 500,000, according to a bourse statement on Sunday.
The National Building will own a 75% stake in the abovementioned investment whilst the remaining 25% share will be held by the board’s chairman, Fahd Bin Thiyniyan Al Thiyniyan, after obtaining regulatory approvals.
Moreover, the second company will operate in the information technology field while the third firm will work in medicines, and medical supplies and equipment sector. The investments are launched at a capital of SAR 500,000 each.
Additionally, each of the National Building Company and Fahd Bin Thiyniyan will own a stake of 50% in the second and third companies.
The new businesses come in line with the Kingdom’s Vision 2030 aiming to diversify economic activities and will expand the company's income sources, the statement concluded.
