AS&H in co-operation with Clifford Chance advises Jeddah Central Development Co. in relation to its historic strategic partnerships with Al-Ittihad and Al-Ahli football clubs

Abuhimed Alsheikh Alhagbani Law Firm (AS&H) in co-operation with Clifford Chance advised Jeddah Central Development Co. (JCD) in relation to two historic strategic partnerships with Jeddah-based sports clubs, Al-Ittihad Football Club and Al-Ahli Football Club. The 20-year strategic partnership is one of the largest in the history of both clubs and one of the largest in the region. The partnership will run from 2022-2042 and will be subject to review every five years.

The Jeddah Central project will contribute to the development of 4 landmarks namely an opera house, a stadium, a museum, and an oceanarium, more than 10 vital attractions such as entertainment and cultural, hospitality, wellness, sports park, beach, leisure and marina along with a vibrant community with more than 17,000 residential units with various hospitality providing around 2,700 keys. The two agreements fall under the JCD’s strategic objectives contributing towards Kingdom of Saudi Arabia’s Vision 2030 to promote the lifestyle in Jeddah.

The AS&H team was led by Partner Majid Al-Sheikh, with support from Associates Abdulrahman Al-Rashed, Mohammed Al-Esheikh, Naif Al-Sheikh and Nawaf Mutwalli.

This further adds to AS&H and Clifford Chance’s strong track record of advising on some of the largest, most innovative and most complex deals in the Middle East.