Skip to content Skip to Search
Skip navigation

World’s biggest law firm sets up in Saudi Arabia

By Andy Sambidge
The King Abdullah Financial District in Riyadh. The kingdom has now licensed over 200 companies under its RHQ programme Shutterstock
The King Abdullah Financial District in Riyadh. The kingdom has now licensed over 200 companies under its RHQ programme
  • Kirkland & Ellis open regional HQ
  • New legislation to come into force
  • Kingdom offers ‘vast opportunities’

Law firm Kirkland & Ellis is to open its first Middle East office in Riyadh ahead of new legislation which aims to make it easier for businesses operating in the kingdom.

The office will serve as its regional headquarters.

Kirkland & Ellis is the world’s largest international law firm by revenue and completed nearly 800 merger and acquisition deals globally last year. 

Chairman Jon A Ballis said the new office will support international clients and a fast-growing roster of domestic Saudi clients as they “navigate the vast opportunities” in the country.

Saudi lawyers Noor Al-Fawzan and Manal Al-Musharaf have joined Kirkland as partners to launch the Riyadh base, alongside corporate partner Kamran Bajwa.

Al-Fawzan focuses on M&A, joint ventures and general corporate matters with a Saudi nexus while Al-Musharaf advises public and private issuers and investment banks on a range of capital markets transactions.

The move, which is part of the regional headquarters programme of Saudi Arabia’s Ministry of Investment, comes as the kingdom prepares to implement its new Civil Transactions Law.

This legislation, scheduled to come into force in December, aims to make it easier for businesses to operate.

Its 721 articles cover matters including contract formation, execution and termination as well as specific provisions tailored to contract types such as contracts of sale, leases, agency and construction. 

Experts have described the law as a “significant step forward” and a reflection of Saudi Arabia’s desire to attract investment and encourage more business activity as part of its wider Vision 2030 agenda.

The Civil Transactions Law is the latest piece of legislation in a wider package of reforms. A Personal Status Law and the Law of Evidence have already been announced, while a new Penal Code for Discretionary Sentences is also proposed.

Lawyers Noor Al Fawzan, left, and Manal Al Musharaf will lead Kirkland’s Riyadh office

Kirkland has been granted a foreign law licence by the Saudi Ministry of Justice and Ballis said many of its existing clients have already set up in the kingdom.

The company’s arrival in Saudi Arabia is the latest development in the country’s legal system, which saw significant changes in 2017.

These include the establishment of specialised commercial courts to handle business disputes and the creation of a new arbitration centre to help resolve disputes quickly and efficiently. 

The Saudi Cabinet approved the Civil Transactions Law in June.

“These reforms are expected to further improve the efficiency and predictability of the Saudi legal system,” Mark Raymont, a partner at Pinsent Masons in Dubai, said.

“The purpose of the new law is to make it easier for businesses to operate in Saudi Arabia, which in turn will help attract further foreign investment.”

Law firm Dentons said it will “go some way to remove uncertainty and speculation”. Shearman & Sterling described the new law as a “significant step forward in Saudi Arabia’s legal landscape”. 

The legislation will be retrospective and cover almost all previous contracts signed in Saudi Arabia with some exceptions.

Shearman & Sterling added that it will “promote increased certainty for businesses and provide a more stable operating environment”.

Latest articles

Aircraft, Airliner, Airplane

Kuwait Airways 2023 revenue soars 16% to $1bn

Increased passenger volume and flight operations increased revenues at Kuwait Airways by 16 percent in 2023. The topline reached KD335 million ($1.1 billion) last year, as the number of flights soared 26 percent year on year to 32,839, the state-run Kuwait News Agency reported, citing chairman Abdulmohsen Alfagaan. No details were shared on profit or […]

A Mitsubishi H3 rocket on the launchpad in Japan. The UAE will use the model in its asteroid belt mission

UAE and Mitsubishi sign agreement for asteroid belt mission

The UAE has signed an agreement with Mitsubishi Heavy Industries to provide services for its 2028 mission to the asteroid belt.  The Emirates Mission to the Asteroid Belt – the first multiple-asteroid tour and landing mission to the main belt that lies between Mars and Jupiter – will launch the Mohammed Bin Rashid Explorer spacecraft […]

Outdoors, Ground, Nature

IMF gives Jordan access to $131m as reforms continue

The International Monetary Fund (IMF) will grant Jordan access to $131 million as the country’s economic reform programme remains strong despite it facing a challenging external environment. The release of the funds remains subject to approval by the IMF’s management and executive board. “Jordan continues to show resilience and maintain macro-economic stability, despite the headwinds […]

Architecture, Building, Factory

Oman public revenue tops $21bn as oil earnings surge

Oman’s public revenue rose to OMR8.1 billion ($21 billion) by the end of August 2024, up 3 percent year on year, thanks to a surge in oil income. Net oil revenue reached OMR4.65 billion ($12 billion), rising 12 percent from OMR4.15 billion ($10.8 billion) a year earlier, the state-run Oman News Agency reported. The average […]