backRIYADH, March 21, 2016 — King & Spalding advised the Alinma Jeddah Economic City Real Estate Fund on a Shari’ah-compliant financing extended by Alinma Bank in connection with the development of the first phase of the Jeddah Economic City project. This is one of the largest development projects in Saudi Arabia and includes the construction of the Jeddah Tower, which will be the world’s tallest building at over one kilometer high.
King & Spalding also advised Jeddah Economic Company and Alinma Investment Company on the formation of the SAR 8.4 billion (approximately US$2.23 billion) Alinma Jeddah Economic City Real Estate Fund, which is regulated by the Saudi Arabian Capital Market Authority.
The King & Spalding team on this financing was led by partner Zaid Al-Farisi and included partners Nabil Issa and James Stull, with the assistance of associate Sayf Shuqair.
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