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MGB Wins Its Largest Saudi Contract Yet: RM444 Million EPC Deal in Medina

By Katherine (Kay)3 min read

KUALA LUMPUR, 19 November 2025 — MGB Berhad (KLSE:MGB), a subsidiary of LBS Bina Group Berhad, has secured its largest overseas contract to date with a landmark RM444 million EPC award in the city of Medina, Saudi Arabia.

The Letter of Award (LA), issued by Beetah Real Estate Company, appoints MGB Alameriah Contracting Company, MGB’s joint-venture firm in the Kingdom of Saudi Arabia, as the main contractor for a major residential and commercial development in Al Madina Al Manowara.

This milestone elevates MGB from a long-standing precast concrete supplier into a full-scale construction leader in the Middle East, strengthening its regional presence under Saudi Arabia’s fast-advancing Vision 2030 ambitions.

RM444 Million Project: A Strategic Leap in Medina

Under the 30-month contract, MGB will undertake the construction of:

  • 440 residential apartments
  • Across four typologies (A1, A2, B1, B2)
  • Within a master-planned Residential–Commercial development

Construction is slated to begin 1 March 2026.

Medina, Saudi Arabia’s fourth-largest city, is undergoing rapid expansion, supported by trade, construction and tourism. Over SAR 210 billion worth of development is currently underway across 213 projects, reflecting the city’s importance to the Kingdom’s long-term growth strategy.

From Supplier to Main Contractor: MGB’s Breakthrough in Saudi Arabia

MGB’s rise in Saudi Arabia has been years in the making. Initially operating as a precast concrete manufacturer and supplier, the Group has progressively built:

  • Strong client relationships
  • A reliable project execution track record
  • A value proposition aligned with Vision 2030 housing objectives

This RM444 million award formalises MGB’s strategic evolution into a main contractor for major foreign developments.

The Group said its long-term presence in the Kingdom reflects its commitment to consistent delivery, technical capability and regional partnerships.

Leadership: “A Proud Milestone in Our International Journey”

Tan Sri Dato’ Sri Ir. (Dr.) Lim Hock San, JP, Group Executive Chairman of MGB Berhad, said the win underscores global confidence in the Group’s engineering capability:

“This milestone is a proud moment for MGB. Being appointed as the main contractor for a significant development in Medina reflects the trust our partners have in our capabilities and the strength of our engineering expertise.

Our progression from supplying precast concrete products to leading a major construction project demonstrates the resilience, growth and dedication of our team.”

He added that MGB will continue expanding its footprint as Saudi Arabia targets:

  • 70% homeownership by 2030
  • Top-10 ranking on the Global Competitiveness Index

Regional Expansion Momentum

With this new LA, MGB said it is well-positioned to secure additional opportunities across the Middle East as construction demand accelerates under mega urban and housing initiatives.

The Group aims to strengthen its long-term strategic presence and become a leading regional construction and engineering player.

Author

  • Kay like to explores the intersection of money, power, and the curious humans behind them. With a flair for storytelling and a soft spot for market drama, she brings a fresh and sharp voice to Southeast Asia’s business scene.
    Her work blends analysis with narrative, turning headlines into human stories that cut through the noise. Whether unpacking boardroom maneuvers, policy shifts, or the personalities shaping regional markets, Kay offers readers a perspective that is both insightful and relatable — always with a touch of wit.