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Home » News

King & Spalding Advises On Property Fund

By Rob Morris on March 2, 2010 – 12:20 pm

SAUDI REAL ESTATE FUND WILL TARGET MEDICAL CENTRES AMONG OTHER PROPERTIES

Law firm provides legal advice on the formation of an Arabian real estate investment fund.

A Saudi investment bank has launched a US$500 million Shariah-compliant real estate investment fund to acquire business assets and offices throughout the Arabian Gulf.

Al Rajhi Capital, the investment banking subsidiary of Saudi’s Al Rajhi Bank, set up the ARC Real Estate Income Fund with Bahraini finance firm Arcapita Bank.

The fund will target income generating properties, such as logistics warehouses, healthcare centres and education facilities.

Law firm King & Spalding advised Al Rajhi Capital and Arcapita Bank during the fund’s formation. Its team was led by Dubai-based partner Benjamin R. Newlad and partner Nabil A. Issa.

Mohammad Al-Ammar, Matthew H.Dallimore and associate James R. Stull were also involved in the deal.

King & Spalding is an international law firm that was created 125 years ago. It has offices in several cities around the globe, including London, Frankfurt, Washington DC, San Francisco, Abu Dhabi and Dubai.