K&A with Remat Al-Riyadh on ARDCO’s investment

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 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.

K&A’s team

K&A’s team was led by managing partner Zeyad Khoshaim (pictured) and senior associate Ghaida Meaigel, and supported by by associate Saud Aldriss.

Remat

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

ARDCO, on the other hand, is a 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.