K&A advised Remat Al-Riyadh Development Company, a development company under the Riyadh Region Municipality, in signing the purchase and subscription agreement for a strategic investment in Riyadh Development Company (ARDCO), a leading Saudi Arabian real estate listed company. The transaction involves Remat contributing real estate assets valued at over SAR 1 billion, in exchange for new shares in ARDCO.  The transaction remains subject to regulatory and shareholders’ approvals, amongst other conditions.

Remat is a strategic enabler for private sector participation to enhance municipal services and contribute toward improving the quality of life in the Riyadh Region. ARDCO, on the other hand, is a leading real estate listed company with historic roots in Riyadh since the 90’s. This strategic transaction aims to build strong relationships between the parties to achieve their strategic goals and contribute to the evolving landscape of Riyadh.

K&A’s team was led by Managing Partner Zeyad Khoshaim and Senior Associate Ghaida Meaigel, and supported by a group of talented members of the K&A team.

This cements K&A’s standing as the leading public M&A firm in Saudi Arabia, and a sector-expert in real estate having worked on deals involving all leading Saudi real estate companies, including the recent shar swape between Taiba and Dur. K&A won the M&A Deal of the Year in 2023, and many other awards including the Saudi Arabian Law Firm of the Year 2024 by IFLR, Legal500 and Chambers & Partners.