Malek Al Rifai

Saudi Arabia: Transformation of the Kingdom

Welcome to the Saudi Arabia focus edition of Law Update.

One of the key markets in the Middle East and North Africa (MENA) that continues to lead from the front is the Kingdom of Saudi Arabia (KSA). As the largest country in the Middle East and the 18th largest economy in the world, the progress KSA continues to make is underpinned by its Vision 2030 that envisions developing the country as an investment powerhouse and hub that ultimately connects Asia, Europe, and Africa. Given Saudi Arabia’s significance to the regional economy, our team of experts have prepared a range of pertinent articles that provide insights into new laws, regulations, and the legal landscape in the Kingdom.

This edition will provide you with an up-to-date guide on matters such as; the framework issued by the Saudi Central Bank on IT governance, the anti-corruption landscape under Vision 2030; we also provide practical tips for dispute avoidance. This is only a snapshot; there are many more articles within the KSA focus section for you to read, which we hope you will find valuable and enjoyable.

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The leading law firm in the Middle East & North Africa region.

Malek Al Rifai

Partner

Biography

Malek is a Partner in the Real Estate team and a core member of our Education, Hotels & Leisure and Projects sector groups. He represents some of the most recognizable names in real estate and has a track record of leading, structuring and executing complex transactions.

Malek is experienced in a wide range of public and private real estate and corporate real estate transactions, including acquisitions/dispositions, financings, project development, joint ventures, sale/leasebacks, build-to-suit, leasing, recapitalizations, restructurings, formation of property funds and REITs. His clients include developers, owners, investors, operators, joint venture partners, funds, sponsors, investment managers, issuers, borrowers, lenders, banks and financial institutions whom he has advised in connection with commercial real estate investments across various asset classes and types, including office, hospitality, education, retail, health care facilities, industrial, multifamily and mixed use properties.

Recent Experience

Advising Apollo Global Management Inc. and its consortium of institutional investors in their USD2.7bn acquisition of a 49% stake in in Abu Dhabi Property Leasing Holding Company RSC Ltd from Abu Dhabi National Oil Company (ADNOC). The strategic investment leveraged the rental income streams from an underlying real estate portfolio valued at USD5.5bn pursuant to a 24 years Master Lease Agreement.
Advising Emaar Development PJSC, the development arm of Emaar Group, in connection with the real estate and regulatory aspects of its USD1.5bn initial public offering of ordinary shares and listing on the Dubai Financial Market (DFM), listed on 11 November 2017.
Advising Abu Dhabi National Oil Company (ADNOC) in the restructuring of its real estate portfolio during the readiness phase of its USD2bn initial public offering. The shares were listed on the Abu Dhabi stock exchange (ADX) on 13 December 2017.
Advising Doğuş Group in connection with its portfolio of real estate in the GCC, including the leasing of prime retail premises in the DIFC housing renowned brands such as ‘Nusret’, ‘Saltbae’ and ‘Amazonico’.
Advising Standard Chartered Bank in relation to its portfolio of commercial leases in Dubai.
Advising Rasameel Structured Finance Company KSC in connection with a Sharia-compliant acquisition of a leasehold interest and subleasing of a staff accommodation in the Emirate of Dubai.
Advising a leading REIT on a broad range of transactional and leasing matters relating to its assets in Dubai.
Advising Five Dining Corporation LTD in its lease of premises in DIFC for the operation of a restaurant under the international three stars Michelin brand “Joel Robuchon”.
Advising Al Marjan Island LLC on various matters in connection with Al Marjan Island mixed use development in Ras Al Khaimah, including the sale of land and off-plan properties to third parties, compliance with RERA regulations and strategic joint ventures.
Advising a number of hotel owners and operators with respect to their rights under their respective hotel management agreements.
Advising a school operator in its build-to-suit lease of a school in Dubai.
Advising a prominent developer on a real estate joint venture with a government entity in Fujairah.
Advising a private seller in its sale of a landmark building in Downtown Dubai.
Advising Eagle Hills Group in connection with a joint venture arrangement relating to a mixed-use development Fujairah.
Advising a private sponsor in connection with the formation of a privately held DIFC QIF property fund.
Advising a UK REIT in connection with its acquisition of a large portfolio of real estate assets across the GCC.
Advising Al Mal Capital in connection with the formation of Al Mal REIT, a fund to be regulated by SCA.