Law firms White & Case and Allen & Overy (A&O) have come in as advisers on the Islamic financing of a Saudi Arabian retail development by Arabian Centres, worth GBP1.1 billion (US$2.15 million).
Mohammed Al-Sheikh and Chris Langdon, both partners in White & Case offices in Saudi and the UK respectively, lead the team advising Arabian Centres, while A&O’s Julian Johansen, who is based in Saudi, is advising lending banks Samba Financial Group, National Commercial Bank, Al Rajhi Bank and Saudi Investment Bank.
Arabian Centres is the largest owner and operator of Saudi malls. The deal is part of the group’s expansion strategy, and it targets to open 12 malls over the next five years.