King & Spalding advised Bawabat Makkah Company, a wholly owned subsidiary of Al Balad Al Ameen Company, in a suite of agreements with Sumou Real Estate Company for the development of the first phase of Makkah Gate Project, a $27 billion complex comprising residential areas, a government administrative district, a business district, a shopping area, a university city, research centers, a park and a medical city located on 83 million square meters along the Mecca-Jeddah highway near the western entrance to the holy city of Mecca.
"We are proud to be associated with such a prestigious project and grateful to our client for entrusting us to deliver high-quality legal services for this complex deal," said Leroy Levy, a Dubai-based partner at King & Spalding. "This addition to a series of high-profile deals we have transacted in an efficient manner through Saudi Arabia is also a cause of pride to the firm."
The first phase of the project includes the construction of 2,000 residential units providing housing for about 600,000 people. The initial development will cover an area of 1.5 million square meters.
The King & Spalding legal team involved in this transaction was led by Levy and included partner Nabil Issa and counsel Tim Tucker.