Saudi Binladin Group facts for kids
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Saudi Binladin group offices, Dubai, United Arab Emirates.
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| Private conglomerate, holding company | |
| Industry | Construction |
| Founded | 1931 |
| Founder | Muhammad bin Ladin |
| Headquarters | , |
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Key people
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Muhannad Al-Azzawi Chairman |
| Owner | Istidama Holding (36.22%) Bin Laden family (63.78% through the Binladin Company for Development and Commercial Investment) |
The Saudi Binladin Group (SBG), also known as Binladin Group Global Holding Company since 2019, is a huge construction company. It works in many countries and has its main office in Jeddah, Saudi Arabia.
This company builds many different things. For example, in 2011, the Saudi Binladin Group signed a big agreement. It was for US$1.23 billion to build the Jeddah Tower. This tower is planned to be the tallest building in the world. They also have an agreement worth US$3.4 billion to build the Doha Metro in Doha, Qatar. The group includes about 537 different companies.
The company was started by a businessman named Muhammad bin Ladin. He was the father of Osama bin Laden, who was known for a major event in the United States in 2001.
Contents
History of the Saudi Binladin Group
The SBG company was started in 1931 by Sheikh Muhammad bin Ladin. He had a good relationship with the founder of Saudi Arabia, Abdulaziz Al Saud. This helped the company get important jobs from the government.
Early Projects and Leadership
Some of their early projects included making improvements to the important mosques in Mecca and Medina. In 1964, Muhammad bin Ladin was asked to work on the Dome of the Rock in Jerusalem.
After Sheikh Mohammed passed away in 1967, his brother-in-law, Mohammed Bahareth, led the group. Then, in 1972, Salem, Muhammad bin Ladin's oldest son, took over. He had help from his brothers.
When Salem passed away in a plane crash in 1988, his brother Bakr became the leader. Thirteen other brothers also joined the company's board. Some of these important brothers included Hasan bin Ladin, Yeslam bin Ladin, and Yehia bin Ladin.
Changes in Ownership
In April 2018, Bakr bin Laden and his brothers Saleh and Saad made a change. They transferred a part of their ownership in the Saudi Binladin Group. This part, which was 36.2%, went to a company called Istidama Holding Company. This company is owned by the Ministry of Finance.
After this, the government of Saudi Arabia set up a special committee. This committee, made of five people, now helps run the Binladin Group. This change was like the government taking a bigger role in the company.
What the Company Does Now
The Binladin Group has offices in many cities in Saudi Arabia. These include Riyadh and Dammam. They also have offices in other major cities in the region. You can find them in places like Beirut, Cairo, Amman, and Dubai.
International Presence
- In Egypt, the SBG is led by Omar bin Laden as Chairman. It is one of the biggest foreign-owned private investment groups there. It has over 40,000 employees.
- In Lebanon, the SBG, represented by Yehia bin Ladin, has been talking about a project. They are looking to invest in rebuilding the Beirut Central District.
- In London, the SBG started a company called Binexport in November 1990.
The Group built the huge Abraj Al Bait Towers in Mecca. They are also building the Jeddah Tower for the Kingdom Holding Company.
Important Incident
On September 11, 2015, a sad event happened. While doing construction work at the Grand Mosque in Mecca, one of the Group's cranes fell. This was due to strong winds. It caused 118 deaths and almost 400 injuries. Because of this, the Saudi king stopped the company from taking new projects for a while. Their current projects were also checked. The Saudi government lifted this ban in May 2016. This allowed the Binladin Group to bid on new projects again.
Projects in Saudi Arabia
The Saudi Binladin Group has worked on many important projects in Saudi Arabia.
- Royal Terminal, Jeddah
- King Abdulaziz International Airport, New Haj Terminal, Jeddah
- Al Faisaliyah Center
- Madina-Qassim Expressway
- Um Alqura University, Makkah
- Lotus Compounds, Jeddah
- Noura bint Abdul Rahman University
- Abraj Al Bait Towers, Makkah
- Jeddah Tower, Jeddah
- King Abdullah Economic City
- Jamaraat Bridge
- Saudi Arabia National Guard Housing Project
- King Abdullah Financial District, Riyadh
- Saudi Arabian Railways Projects CTW-100 and CTW 110
- Al Masjid Al-Haram expansion
International Projects
The company also has projects in other countries around the world.
- Blaise Diagne International Airport, Senegal
- Sharjah International Airport Expansion & Development, UAE
- University of Sharjah, UAE
- Expansion of Velana International Airport, Maldives
- Kuala Lumpur International Airport, Malaysia
- Deep Dive Dubai, UAE
Images for kids
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Saudi Binladin Group Logo
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Saudi Binladin group offices, Dubai, United Arab Emirates.
