Established in 2013 by the country's General Authority of Civil Aviation, it today operates all of Saudi Arabia's 29 civilian airports through its four wholly owned subsidiaries.

[1][2] In an interview with al-Eqtisadiah in September 2013, Prince Fahd bin Abdullah al-Saud, then president of the General Authority of Civil Aviation floated the idea of privatization of Saudi Arabia's international airports before 2022 while opening them up to investments.

[6][7][8] In November 2015, the General Authority of Civil Aviation announced that Saudi Arabia's international and domestic airports would soon be opening up to foreign investments and will be privatized by 2020, beginning from the first quarter of 2016.

In 2021, Bloomberg reported that the Saudi government relaunched its privatization strategy after the General Authority of Civil Aviation announced transferring of all civilian airports in the country to Matarat Holding.

[18] In November 2022, Abdulaziz al-Duailej, the head of General Authority of Civil Aviation hinted the possibility of trading the company on Tadawul, the Saudi Stock Exchange.