KN&P Facilitates Al-Akaria’s Sidrat Al Ula Agreement
Saudi Real Estate Co. (“Al-Akaria”) has inked a significant Development Management Agreement, facilitated by KN&P. This agreement, signed with the Royal Commission for Al Ula and Al Ula Development Company, paves the way for the development of the Sidrat Al Ula Project land, spanning an impressive 260,233.23 sqm.
The project promises a diverse residential landscape comprising a total of 810 units. Among these units, 570 will be apartment units while 240 will be villas and townhouses. Additionally, the masterplan includes the integration of commercial and retail spaces covering approximately 36,769 sqm/GFA, along with expansive green parks and various supporting facilities.
The legal team was spearheaded by Khalid Nassar (Managing Partner, pictured left) and Mohamed Alnafea (Partner, pictured right) and supported by Marya Mufti (Senior Associate), whom are part of KN&P’s capital market team.
