This issue is filled with great insights and expert commentary on areas that are relevant to the legal landscape and highlight how the business community is embracing technology, media and telecommunications. There are various topics covered, from new ways of working and digital transformation in the finance sector to data protection regulatory updates and guidance. We also have a series of articles that focus on e-commerce across a number of jurisdictions.
You will also find insights from our lawyers around real estate analytics, tech trends, and data centres.
We hope this edition of Law Update provides some useful food for thought – enjoy the read!Take a read of the edition
Al Tamimi & Company opened the Riyadh office in March 2008. It comprises a team of Arab, Saudi and western lawyers that are completely integrated and supported by Al Tamimi’s extensive network of GCC offices.
It is unique amongst other KSA law firms as it is the only foreign law firm in KSA licensed to practice in its own name, without a local association, ensuring consistent, high quality, legal services. The office has unparalleled local knowledge and contacts, which in KSA are essential, in assisting clients to achieve their business objectives. In what can be a challenging jurisdiction, our approach is to focus on solutions, not obstacles, when advising our clients.
Our KSA office provides advice in all areas of corporate, commercial and finance law including:
Our litigation department is headed by Abdullah Al Tamimi. Through his efforts, he has been able to propel the Al Tamimi KSA office to becoming a leading firm for Dispute Resolution. Abdulla is currently leading all litigation matters in the Riyadh office; many of which are multi-national companies. In one instance, he is representing a large regional bank on a SAR 2.5 billion (approximately $700 million USD), credit facility. In addition to this very high profile case, he is also representing a consortium of regional banks in recovery proceedings against a Saudi based company totaling over SAR 1.2 billion (approximately $330 million USD).
Aside from these notable cases, Abdullah continues to play a key leadership role in the Riyadh office by helping to drive the team forward and by securing new assignments for the office. Most recently, Abdullah played a key role in helping to secure The King Abdullah Financial District project for the firm.
The team in KSA is made up of X partners and X lawyers all of whom are involved in a variety of assignments. Our Riyadh office was awarded one of the most sought after projects within the kingdom, The King Abdullah Financial District.
Al Tamimi & Company has been assigned as the legal advisor for the Rayadah Investment Company (“Rayadah”) in relation to the King Abdullah Financial District (“KAFD”). Rayadah, is the investment arm of the Public Pension Agency and has been mandated to build, develop and manage KAFD.
Al Tamimi & Company’s appointment was a result of Al Tamimi’s notable experience in similar previous mandates. KAFD’s project will be led by number of lawyers in Al Tamimi’s Riyadh office, as well as, experienced lawyers in other offices of Al Tamimi who specialize in property, construction and corporate commercial matters.
The KAFD is aimed at providing a Saudi business working environment similar to those existing in the leading financial centers all over the world. We are proud that the Al Tamimi & Company Riyadh office is taking such an active role in this monumental development.
The Kingdom of Saudi Arabia is the largest country in the Middle East by land area, constituting the bulk of the Arabian Peninsula, and the third-largest Arab country. It is bordered by Jordan and Iraq on the north and northeast, Kuwait, Qatar and the United Arab Emirates on the east, Oman on the southeast, and Yemen on the south. It is also connected to Bahrain by the King Fahd Causeway. The Persian Gulf lies to the northeast and the Red Sea to its west. Saudi Arabia has an estimated population of 25.7 million of which 5.5 million are non-citizens, and its size is approximately 2,149,690 square kilometers (830,000 sq mi).
Saudi Arabia has the world’s largest oil reserves and is the world’s largest oil exporter. Oil accounts for more than 90% of exports and nearly 75% of government revenues. The King of Saudi Arabia is Abdullah bin Abdul Aziz and the crown prince is Sultan bin Abdul Aziz. The capital city is Riyadh the 2010 estimated Purchasing Power Parity GDP is USD $622 billion.
Please visit our website at www.tamimi.com for more information on our Riyadh office.