SELANGOR, 15 April 2026 – MGB Berhad (“MGB” or “the Group”), a leading construction, property development and Industrialised Building System (“IBS”) precast concrete manufacturer, as well as a subsidiary of LBS Bina Group Berhad, announced that its indirect wholly-owned subsidiary, MGB International For Industry (“MGBI”), has accepted a Letter of Award (“LOA”) from ROSHN Group Company for the construction and engineering works for the MARAFY AL AROUS project in Jeddah, Kingdom of Saudi Arabia (“KSA” or the “Kingdom”).
The award also reflects the growing relationship between MGB and ROSHN Group Company, KSA’s leading national real estate developer and a key contributor to Saudi Vision 2030 through the delivery of large-scale integrated communities across the country. ROSHN Group Company is a wholly owned entity of the Public Investment Fund (“PIF”), one of the world’s largest sovereign wealth funds, with assets exceeding USD700 billion.
Valued at approximately SAR32.98 million (equivalent to RM34.76 million), the contract covers the completion of the superstructure for 75 villa units, covering site preparation, temporary works, substructure, and superstructure work. The project will commence in April 2026 and is scheduled for completion within eight months.
This marks MGB’s second project in KSA as a main contractor, and its first direct award from ROSHN Group Company, reinforcing the Group’s growing presence in the Kingdom’s construction sector. More importantly, it represents another significant milestone in MGB’s international growth strategy in the Middle East.
Prior to this, MGB secured its first main contract in KSA in November 2025 from Beetah Real Estate Company for the engineering, procurement and construction (“EPC”) of a residential and commercial development in Al Madinah Al Munawwarah, Medina, valued at approximately SAR400 million (equivalent to RM444 million). The total contracts value secured in KSA to date is SAR613.3 million.
MGB’s Long-Term Commitment to KSA
MGB’s presence in KSA is underpinned by a long-term strategy aligned with the Kingdom’s construction and housing expansion under Saudi Vision 2030. In 2023, MGB entered into a joint venture to operate an IBS precast concrete manufacturing plant in Jeddah. In 2024 and into 2025, MGB progressively built its presence in the market as a subcontractor carrying out IBS precast concrete installation works for residential developments.
This progressive approach has enabled MGB to transition into a main contractor role while continuing to build strong local partnerships and developing regional talent.
Commenting on the award, Group Executive Chairman of MGB Berhad, Tan Sri Dato’ Sri Ir. (Dr.) Lim Hock San, expressed his appreciation to ROSHN Group Company for the trust and confidence placed in MGB, and reaffirmed the Group’s commitment to delivering the project to the highest standards of quality, efficiency and professionalism.
“This award further strengthens our track record in the Middle East and reinforces the Group’s vision of becoming a regional leader in industrialised construction and the delivery of large-scale housing development projects,” he said.
Despite ongoing geopolitical tensions in parts of the Middle East, business operations and development activities in key cities across Saudi Arabia, including Riyadh, Jeddah and Medina, remain stable and continue to progress as planned . We remain confident in our long-term opportunities in KSA and are committed to deepening our presence as we continue to support the Kingdom’s development agenda.”
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