State led targeting of the Bin Laden Group (“BLG”) is putting Saudi’s construction sector under the spotlight; not least because the company accounts for the lion’s share of market activity. Today’s insight picks apart the state’s interference in the company, considering where it may be headed in the short-to-medium term.
- Competing with Saudi Oger for the crown of the construction industry, the wider economy has come to depend upon the Bin Laden Group. It spearheads many of the Kingdom’s biggest infrastructure projects.
- Despite its significance, BLG is one of the hardest hit entities by Crown Prince Mohammed bin Salman’s recent policies; he has appropriated part of the company –with a view to acquiring more.
- The fate of the company, and its directors, remains uncertain but it is clear that only a willingness from Riyadh’s top brass will save the Group’s interests; this may be done for the benefit of the state in its latest power play.