Al Tamimi & Company strengthens position as leading Middle East law firm with new office in Riyadh, Saudi Arabia

December 16, 2008 8:27 am

The firm now has 8 offices across the Middle East in Dubai, Abu Dhabi, Sharjah, Qatar, Baghdad and Jordan with 24 partners and over 150 lawyers in total.

Al Tamimi is the only foreign law firm licensed to practice in Saudi Arabia in its own name without a local association.

The new office is expanding rapidly and already has 17 staff including two partners, 8 lawyers and 1 paralegal.

The office, which is led by banking and finance partner Nicholas Diacos and corporate and commercial partner Mohammad Arif Saeed, focuses on corporate & commercial, banking, project finance, infrastructure and corporate finance, IP, employment, litigation and property work.

The firm has been asked to tender to advise on a $13bn property and infrastructure development project following its work on the development of the Dubai International Financial Centre. The office is also undertaking work for UAE and international clients in the finance, energy, construction and property sectors including one of the first mortgage lending joint ventures arising from the new Saudi mortgage laws, the first ever professional services outsourcing agreement with the Saudi government and a SAR265m fully Shariah compliant loan facility under Saudi law.

Commenting on the new office opening, Al Tamimi founder and senior partner, Essam Al Tamimi said: “We are delighted to have been able to open our new Riyadh office in our own name. The decision to open in the Saudi capital is in direct response to client requirements for an Arab law firm with global connections to have a major presence in the Kingdom. The Saudi economy is growing rapidly with the highest GDP in the region and we believe the new office will offer significant opportunities for our Middle East and international clients.”

Nicholas Diacos who leads the Riyadh office added: “Saudi Arabia is a natural extension of the firm’s presence across the key markets in the Middle East in support of our clients’ business activities in the region. The Saudi government’s commitment to the development of the Economic Cities concept, providing over 1m jobs and 25% of GDP by 2020, as well as the 10 x 10 initiative, to make Saudi Arabia one of the ten most competitive global economies by 2010, has created a significant platform for investment in the region. With a substantial on-the-ground presence, Al Tamimi is uniquely placed to advise clients in this market. We have the resources of the largest law firm in the region, combining global standards of expertise with extensive local knowledge and contacts.”