whose relationship with the country's founder, Abdulaziz Al Saud, led to important government contracts such as refurbishing the mosques at Mecca and Medina.

[citation needed] The Group considered an initial public offering in 2011, but declined to do so due to a combination of low oil prices, a weak stock market, and bureaucratic obstacles.

[3] In April 2018, Bakr bin Laden, as well as his brothers Saleh and Saad, transferred their 36.2% stake in the Saudi Binladin Group to the Istidama Holding Company, which is owned by the Ministry of Finance.

[3] Reuters described the ownership transfer as a functional nationalization, with al-Harkan, the committee's chairman, reporting to Finance Minister Mohammed Al-Jadaan.

[7] On 11 September 2015, while doing construction work in the Grand Mosque in Mecca, Saudi Arabia, one of the Group's cranes collapsed due to high winds causing 118 deaths and almost 400 injuries.