Covington Advises Investors on Two Residential Communities in NEOM, Saudi Arabia

DUBAI—Covington advised Tamasuk Holding Company, Al Majal Al Arabi Group Company, and Saudi Arabian Trading and Construction Company on the development and financing of two residential communities located at the NEOM smart-city, in Saudi Arabia.

The two residential communities form part of the first phase of NEOM's residential communities’ expansion, a social infrastructure project that will house the region’s growing workforce. At a value of over $5.5 billion, the project is one of the largest public-private partnerships for accommodation globally.

The core Covington team was led by Marc Norman, and included Richard Keenan, Derek Kirton, Christoph Schulz, Ramy Ramadan, Neisha Joseph, and Jamie Tribe.