Kirkland advises King Salman Park Foundation on USD3.8bn development

Kirkland & Ellis is advising King Salman Park Foundation (KSPF) on the development and construction of 2 mixed-use development districts in Riyadh with an aggregate value of approximately USD3.8 billion. The KSPF project will become one of the largest residential-led platforms in the Middle East, a landmark development supporting Saudi Vision 2030 and one of the largest urban park projects globally. Package 4 will include over 600 residential units, 140 hotels and approximately 50,000 sqm of office space valued more than USD850 million. Package 5 will span more than 400,000 sqm and include approximately 3,700 residential units, around 300 hotels, a best-in-class K-12 school, more than 100,000 sqm of Grade A office space and a wide variety of retail and dining offerings and is valued at approximately USD3 billion. The project marks a new benchmark for sustainable, mixed-use urban development in Riyadh and reflects the continued growth of the Kingdom’s real estate investment landscape.

The Kirkland team includes construction lawyers James Clark and Aurelia Russo; and debt finance lawyer Mohsin Iqbal.