A&O Shearman with Al Marqab on Solitaire sale
A&O Shearman advised Al Marqab Investment Company on the sale of Solitaire, a 65,000 sqm GLA mixed-use retail development hosting a luxury shopping centre in Riyadh, to a real estate investment fund managed by Alrajhi Capital and regulated by the Capital Market Authority (CMA).
The sector
A&O Shearman partner Sultan Almasoud commented on the state of the sector: “This transaction is a clear reflection of the robust momentum we are witnessing in Saudi Arabia’s commercial real estate market, particularly in the luxury retail segment. The successful sale of Solitaire not only underscores the growing appetite among institutional investors for high-quality, income-generating assets, but also highlights the increasing sophistication and maturity of the Kingdom’s real estate sector.”
The A&O Shearman team
Riyadh-based partners Sultan Almasoud (pictured left) and Mohsin Suleman (pictured right) led the A&O Shearman team on the matter, with further support from the KSA associate line-up featuring Sanjarbek Abdukhalilov, Aseel Alkathiry, Khaled Albakr, and Lama Alshaiban.
