AS&H in co-operation with Clifford Chance advises Qiddiya Investment Company in relation to Six Flags Qiddiya
Abuhimed Alsheikh Alhagbani Law Firm (AS&H) in co-operation with Clifford Chance advised Qiddiya Investment Company (QIC) in relation to Six Flags Qiddiya. The SAR 3.75 billion contract was signed on 12 December 2021 awarding the contract to Bouygues Bâtiment International (BBI) - a subsidiary of Bouygues Construction and Saudi Almabani General Contractors.
Situated on the outskirts of the Saudi Arabian capital Riyadh, Qiddiya is planned to become a leader in entertainment, sports and the arts and a destination that presents a wide spectrum of offerings that include sports, wellness, nature, environment, parks, attractions, mobility as well as arts and culture. The theme park will cover an area of 320,000 square meters and will feature 28 rides and attractions of which 10 will be thrill rides and 18 rides designed for families and young children.
A cross-border team comprising of AS&H and Clifford Chance lawyers was led by Partners Majid Al-Sheikh and Daniel Royle and Head of Construction MENA Inaamul Laher, with support from Tim Steadman (Clifford Chance Construction Group) as well as Senior Associates Anna Cornelius, Sultan Al-Fayez and Simon Smith and Associates Damon Dae-Il Kim and Alhanouf Al-Sultan.
AS&H and Clifford Chance have a strong track record of advising on some of the largest, most innovative and most complex deals in the Middle East having recently advised the Public Investment Fund (PIF) on the successful completion of its approximately SAR2.83 billion capital increase in Emaar, The Economic City (EEC) through the conversion of debt to equity as well as King Abdullah Financial District (KAFD), one of the largest real estate projects in the region, on their successful sale of a 53-floor tower to Riyad Bank to become Riyad Bank’s headquarters.