Kirkland & Ellis Advises King Salman Park Foundation on US$1 Billion Riyadh Mixed-Use Development

"Kirkland & Ellis advised the King Salman Park Foundation, in partnership with Ajdan Real Estate Development Company and SEDCO Capital, on the development and construction of a US$1 billion mixed-use district within King Salman Park in Riyadh. The project includes 600+ residential units, 200 hotel rooms, 45,000 sqm of office space and 106,000 sqm total area as part of Vision 2030."

Kirkland & Ellis advised the King Salman Park Foundation, in partnership with Ajdan Real Estate Development Company and SEDCO Capital, on the development and construction of a major mixed-use district in Riyadh. The transaction concerns the development of a vibrant urban neighbourhood within King Salman Park, a central pillar of the Kingdom’s Vision 2030 and one of the world’s largest urban parks. The project will establish a new, sustainable mixed-use district in Riyadh designed to set a benchmark for urban development in the Kingdom and to reflect the strength of Saudi Arabia’s real estate investment ecosystem. The development comprises a mixed-use area centred on the residential neighbourhood and includes more than 600 residential units, 200 hotel rooms, approximately 45,000 square metres of office space, and a range of retail and service facilities, over a total site area of 106,000 square metres. The overall project is valued at approximately US$1 billion and forms part of the broader Vision 2030 programme. Kirkland & Ellis represented the King Salman Park Foundation, in partnership with Ajdan Real Estate Development Company and SEDCO Capital, with a team composed by: James Clark and Aurelia Russo, construction lawyers.

Kirkland & Ellis Advises King Salman Park Foundation on US$1 Billion Riyadh Mixed-Use Development

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