Mayar Holding Company

What Mayar Holding Company does

Mayar Holding Company is a Riyadh-domiciled, Tadawul-listed (tadawul:9568) Saudi industrial investment holding company, structured as a closed joint stock company and 83.14%-owned by Taya Holding Co. The group operates through 13 subsidiaries across four industrial verticals: elevators and escalators (Gulf Elevators, Egypt Gulf Elevators, Fuji Saudi Arabia, VEION, Creative Performance/HITACHI, ITM/Shanghai Mitsubishi/Titan, Smart Elevators, and Elevator Solutions Investment Co.), animal feed and poultry (Jedaya Agriculture, Jedaya Feed, Jedaya Poultry, Food Developing/ASILH), plastics (Saudi Drip Irrigation, Misr Gulf for PVC/EVA), and food processing (Rasa Food Industries). Core operating technology centers on physical industrial manufacturing: the first elevator and escalator factory in the Middle East (Jeddah Industrial City, 1999) with 5,000+ units of annual capacity, and the largest such factory in the Middle East (Egypt Gulf, 60,000 sqm, 6,000+ units/year); German KHAL-equipped compound-feed lines at Jedaya; and Hunter-licensed agricultural irrigation extrusion at Saudi Drip.

The company makes money through a hybrid industrial model: (i) hardware sales of manufactured elevators, escalators, PVC/EVA compounds, drip-irrigation pipes, and compound feed; (ii) recurring installation, maintenance, repair, and modernization services; (iii) licensing royalties from exclusive multi-territory agencies for FUJI, HITACHI, Shanghai Mitsubishi, and Titan; and (iv) an OEM manufacturing stream via the Hunter agency. Go-to-market is sales-led, B2B enterprise and government: dedicated subsidiary sales teams pursue competitive tenders with NEOM, the National Housing Authority, and the Public Investment Fund, while exclusive regional agents handle distribution across the GCC, Middle East, Africa, and parts of Europe and South America. Pricing is tender-driven and per-project (e.g., NEOM SAR 28.9M / 24-month O&M, National Housing >SAR 55M / 702 elevators, Egypt SAR 64.6M / 1,200 elevators).

The customer base spans government and semi-government entities (housing authorities, giga-projects), private real-estate developers in Saudi Arabia and Egypt, agricultural and livestock operators, plastics and footwear OEMs, and restaurant/retail poultry buyers. The group has served more than 259 global clients, holds ISO/SASO/Saudi Made certifications, and is led by Chairman Eng. Thamer bin Abdullah bin Mohammed bin Rayes, Deputy Chairman Eng. Mohammed bin Abdullah bin Mohammed bin Rayes, and CEO Eng. Abdulmajed bin Abdulmohsen Al Sheikh. Despite strong production scale and a substantial contract pipeline, Mayar reported a SAR 46.3 million FY2024 loss, prompting an SAR 88 million Saudi Awwal Bank financing facility in December 2025 and an SAR 67.59 million unconditional shareholder debt waiver from Taya Holding Co. in June 2026.

Name

Mayar Holding Company

Legal name

Mayar Holding Company

Website

https://mayar.com.sa

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

11–50 employees

Short description

Mayar Holding Company is a Riyadh-headquartered, Tadawul-listed Saudi industrial investment holding company that, through 13 subsidiaries, manufactures elevators and escalators, compound animal feed, PVC/EVA plastics, and poultry products, serving government, enterprise, and agricultural customers across Saudi Arabia, the GCC, Egypt, and Africa.

Ownership category

akta.pro rank

Headquarters

HQ city

Riyadh

HQ country

Saudi Arabia

HQ region

Middle East

Offices11 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Others

Revenue model

1. Elevator & Escalator Manufacturing, Sales, Installation & Maintenance: The company manufactures elevators and escalators through Gulf Elevators & Escalators Co. Ltd. and Egypt Gulf Elevators & Escalators Co. Ltd., distributes through subsidiaries (Fuji Saudi Arabia, VEION, Creative Performance for HITACHI, ITM for Shanghai Mitsubishi/Titan, Smart Elevators), and provides installation, maintenance, and spare parts services. This is the primary revenue driver across Saudi Arabia, Egypt, and exported markets.
2. Professional Services (Installation, Maintenance, Repair, Modernization): Subsidiary companies provide elevator/escalator installation, maintenance, repair, and modernization services under exclusive brand agencies, generating recurring service revenue from both residential and commercial customers.
3. Animal Feed Manufacturing & Sales: Jedaya Feed produces compound feed for poultry and livestock. Jedaya Agriculture and Jedaya Poultry produce and distribute poultry. Food Developing Trading Co. distributes and sells poultry under the ASILH brand. Revenue includes both feed sales and poultry sales.
4. Plastic Products Manufacturing & Sales: Saudi Drip produces drip irrigation systems (plastic pipes and accessories) and semi-finished plastic compounds. Misr Gulf (Egypt) produces PVC compounds and EVA products, plastic shoes, and sandals under brands Onda, Uji, Vion. Revenue from direct sales to agricultural, water systems, and footwear sectors.
5. Food Processing (Poultry & Meat): Rasa Food Industries Co. (established 2023) is setting up a factory to manufacture and produce poultry and meat food products in Saudi Arabia under the 'Saudi Made' slogan. Currently in establishment phase.
6. Licensing Royalties (International Brand Agencies): The company holds exclusive distribution and agency rights for international elevator brands (FUJI, HITACHI, Shanghai Mitsubishi, Titan) across Saudi Arabia and multiple regional markets, generating licensing/royalty income through exclusive market rights valid until 2032.
7. Financing / Debt Operations: Mayar Holding units secured SAR 88 million in financing from Saudi Awwal Bank (short-term auto loan product). A major shareholder debt waiver of SAR 67.59 million was received from Taya Holding Co. (83.14% shareholder) in June 2026 to support operating activities and liquidity.

Pricing tiers

Go-to-market motion4 records

Distribution channels6 records

Marketing channels5 records

Core offering

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Product overview

Mayar Holding Company is a diversified Saudi industrial investment holding company operating across four main sectors through its subsidiaries. The company began in 1999 with Gulf Elevators (first elevator factory in the Middle East) and has grown into a multi-sector conglomerate. The Elevator Solutions sector includes manufacturing and trading subsidiaries (Gulf Elevators, Egypt Gulf Elevators, Fuji Saudi Arabia, Veion, Hitachi, ITM, Smart Elevators) offering elevators, escalators, installation, and maintenance. The Animal Feed & Poultry sector comprises Jedaya Agriculture, Jedaya Feed Mill, Jedaya Poultry Production, and Food Developing Company (ASILH brand) covering feed production, poultry farming, and distribution. The Plastic sector includes Saudi Drip Irrigation (drip irrigation systems) and Misr Gulf Co. (PVC/EVA compounds and shoes). The Food Production sector includes Rasa Food Industries for poultry and meat processing. The company operates primarily in Saudi Arabia with subsidiaries in Egypt, serving Gulf, Middle East, and African markets.

Differentiator

Problem solved

Functional benefit

Brands

• FUJI: Elevator and escalator brand manufactured and distributed by Gulf Elevators & Escalators Co. Ltd. and Fuji Saudi Arabia - exclusive agent for Japanese FUJI products
• Veion
• HITACHI
• SHANGHAI MITSUBISHI ELEVATOR
• TITAN
• Smart Elevators
• Saudi Drip
• ASILH
• Onda
• Uji
• Vion

Products and services

• [Insufficient source data] No products or services evidenced in the input. [Insufficient source data to populate] No products or services were evidenced in the input.

Quantifiable outcome

• Fuji Saudi Arabia holds >20% market share of the local elevator market in Saudi Arabia, ranking among top 5 international brands in the Kingdom.
• +4 more outcomes

Named customers6 records

Segments6 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Twelve partnerships are on record, tiered minor and core.

• Avant Sports Co.minorStrategic or Co-development Partner · 2 July 2025Mayar Holding signed a memorandum of understanding and strategic partnership agreement with Avant Sports Co., a Chinese manufacturer of plastic chairs for sports stadiums. The partnership was announced on July 2, 2025, and is managed through one of Mayar Holding's subsidiaries.
• Hunter (American company)coreStrategic or Co-development Partner · 4 February 2024Saudi Drip Irrigation (a Mayar Holding subsidiary) signed an exclusive 5-year manufacturing agency contract with American company Hunter to manufacture agricultural irrigation systems (residential, commercial, golf course irrigation) and water/energy-efficient solutions at its Riyadh factory. The contract covers Saudi market and neighboring country exports. Value is undisclosed but expected to positively impact financial results from Q2 2024.
• Noqat Al-Wasit Trading Company (Iraq)minorChannel Partner/ Reseller/ Distributor · 20 December 2023Gulf Elevators & Escalators Co. Ltd. signed an exclusive 3-year marketing, sales, installation, and maintenance agency agreement with Noqat Al-Wasit Trading Company for Iraq on December 20, 2023.
• NEOMcoreStrategic or Co-development Partner · 9 November 2023Saudi Drip Irrigation (Mayar Holding subsidiary) signed a 24-month operations and maintenance contract with NEOM on November 9, 2023. Contract value is SAR 28.9 million (excluding VAT). Financial impact expected from Q1 2024.
• Saudi Export Development AuthorityminorGTM or Marketing Partner · 25 October 2023Gulf Elevators & Escalators Co. Ltd. signed an export agreement under the Saudi Made initiative, under the patronage of the Minister of Industry and Mineral Resources, with presence of the Saudi Export Development Authority CEO, to promote Saudi-manufactured elevator exports internationally.
• National Housing Authority (Al-Wataniya Al-Iskaniya)coreChannel Partner/ Reseller/ Distributor · 3 November 2022Mayar Holding subsidiary Fuji Saudi Arabia signed a contract to supply and install 702 Fuji elevators with the National Housing Authority on November 3, 2022. Contract value exceeds SAR 55 million. Manufacturing to take place at the company's Jeddah factory.
• Hitachi Elevator Company (Japan)coreTechnology or Integration · 1 January 2022Mayar Holding obtained exclusive agency rights to sell all Japanese HITACHI elevator products in Saudi Arabia starting January 1, 2022, following the 100% acquisition of Creative Performance Co. for Elevators. The relationship began in 2007 when Mayar subsidiaries were exclusive agents, and evolved into a strategic partnership in 2017 through a joint venture.
• National Authority for Military Production (Egypt) - 20% stakecoreStrategic or Co-development Partner · 1 January 2018Egypt Gulf Elevators & Escalators Co. Ltd. was established in 2018 as an Egyptian joint stock company with ownership: Gulf Elevators & Escalators Co. Ltd. (60%), National Authority for Military Production (20%), and Helwan Company for Machines and Equipment (20%). The partnership aims to localize elevator manufacturing technology in Egypt and serve as a gateway to African markets.
• Helwan Company for Machines and Equipment (Egypt) - 20% stakecoreStrategic or Co-development Partner · 1 January 2018Egypt Gulf Elevators & Escalators Co. Ltd. established in 2018 with Helwan Company holding 20% stake, alongside Gulf Elevators (60%) and National Authority for Military Production (20%). Partnership supports Egyptian industrialization and elevator technology localization.
• Shanghai Mitsubishi Elevator CompanycoreChannel Partner/ Reseller/ Distributor · 1 January 2014ITM Company (Saudi Installation, Operation and Maintenance Contracting Co.) operates as the exclusive agent for Shanghai Mitsubishi Elevator Company products in Saudi Arabia.
• Titan Elevator CompanyminorChannel Partner/ Reseller/ Distributor · 1 January 2014ITM Company operates as the exclusive agent for Titan Elevator Company products in Saudi Arabia.
• KHAL (German company)coreTechnology or Integration · 1 January 2010Jedaya Feed's compound feed factory was equipped by German company KHAL, considered one of the world's best manufacturers of feed production lines. Two separate production lines (poultry feed and livestock feed) were installed. Jedaya Feed's factory commercial production began Q4 2017.

Scale indicators14 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• Almarai Company: Largest vertically integrated food company in the Middle East, listed on Tadawul. Comparable as a Saudi food/agribusiness incumbent with poultry and dairy operations competing in adjacent protein segments.
• Schindler Group: Swiss global elevator and escalator manufacturer with extensive Middle East presence. Comparable as a global elevator incumbent operating in the same regional markets Mayar serves.
• Savola Group: Saudi-listed food holding company with diversified subsidiaries in edible oils, sugar, retail, and processed foods. Comparable in business model as a Saudi multi-sector food/industrial holding with Tadawul listing.
• Kone Oyj: Finnish global elevator and escalator manufacturer with strong service focus. Comparable as a global elevator incumbent competing in the same end-market as Mayar's elevator portfolio.
• Otis Worldwide: World's largest elevator and escalator manufacturer. Comparable as a global elevator incumbent against which Mayar's FUJI/HITACHI/Mitsubishi distribution and Gulf manufacturing compete.

Direct peers

• National Industrialization Company (Tasnee): Saudi petrochemicals and industrial holding company listed on Tadawul. Comparable as a Saudi industrial conglomerate with diversified subsidiaries and government-aligned industrial strategy.
• Aamal Company: Qatari diversified industrial holding company with multiple manufacturing and trading subsidiaries across unrelated sectors. Closely mirrors Mayar's holding-company model and GCC-market industrial diversification.
• Tanmiah Food Company: Saudi-listed poultry producer operating across breeding, hatcheries, feed, and processed chicken. Directly comparable to Mayar's Jedaya Poultry and Food Developing (ASILH) businesses in the Saudi poultry value chain.
• Zamil Industrial Investment Company: Saudi-listed industrial conglomerate with similarly diversified manufacturing across construction materials, HVAC, and insulation. Comparable in holding structure, Tadawul listing, and Saudi Vision 2030 exposure.
• Saudi Industrial Development Company: Tadawul-listed Saudi industrial holding with diversified manufacturing subsidiaries. Comparable in business model as a Saudi industrial investment holding company targeting multiple sectors.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/Mayar_Holding
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Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries15 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Mayar Holding Company