The Gulf Cooperation Council region (the GCC) is becoming an ever-more important destination for the global private credit market. In this client briefing we explore the region’s rising prominence as a key destination for...more
4/16/2025
/ Capital Markets ,
Creditors ,
Debt ,
Financial Markets ,
Financial Services Industry ,
Gulf Cooperation Council (GCC) ,
Investment Funds ,
Lenders ,
Liquidity ,
Loans ,
Middle East ,
Private Equity ,
United Arab Emirates (UAE)
The Kingdom of Saudi Arabia issued Royal Decree number M/195 dated 03/09/1446H (corresponding to 03/03/2025G) (the “Royal Decree”), allowing foreign investment in retail pharmacies. This is a significant development as...more
On 27 January 2025, the Saudi Capital Market Authority (“CMA”) approved the ‘Controls for the Exclusion of Companies Listed in the Saudi Stock Exchange (Tadawul) from the Meaning of the Phrase (Non-Saudi) in accordance with...more
The National Center for Non-Profit Sector (“NCNPS”) is the supervisory body of civil society organizations and private foundations. The NCNPS regulates civil society organizations and private foundations in accordance with...more
On 6 August 2024, the Council of Ministers approved amendments to the Kingdom of Saudi Arabia (“KSA”) Labor Law and its Implementing Regulations. These will come into force on 19 February 2025, 180 days after being published...more
9/13/2024
/ Compliance ,
Employee Benefits ,
Employee Training ,
Employment Contract ,
Federal Labor Laws ,
Jurisdiction ,
Maternity Leave ,
New Amendments ,
Paid Leave ,
Penalties ,
Popular ,
Probationary Period ,
Saudi Arabia ,
Wages
On August 11, 2024, the Kingdom of Saudi Arabia (the “Kingdom” or “Saudi Arabia”) issued the new Investment Law, pursuant to Royal Decree number M/19 (the “New Investment Law”), which is intended to replace the Foreign...more
On May 20, 2024, the Ministry of Human Resources and Social Development (“MHRSD”) in collaboration with the Ministry of Municipal Rural Affairs and Housing announced their goal of increasing the Saudization ratio in the...more
The launch of the Kingdom of Saudi Arabia’s (the Kingdom) Vision 2030 Program preceded the announcement of numerous ground-breaking Mega and Giga-projects throughout the country. Eight years on, recent MEED data estimates...more
8/8/2024
/ Capital Raising ,
Contractors ,
Fossil Fuel ,
Investment ,
Leaseback ,
Leases ,
Property Tax ,
Real Estate Market ,
Revenue ,
Sales ,
Saudi Arabia
On May 3, 2024, the Zakat, Tax and Customs Authority (“ZATCA”) issued amendments to the Real Estate Transaction Tax (“RETT”) Implementing Regulations. The RETT Implementing Regulations were first introduced on October 4,...more
The Government of the Kingdom of Saudi Arabia (“Kingdom”) in February 2021 announced its objective to limit governmental contracting with multinational companies (“MNCs”) that do not have a Regional Headquarter (“RHQ”) in the...more
The Civil Transactions Regulation (the “CTR”) was promulgated on 18 June 2023 and entered into force on 16 December 2023. The CTR was conceived as one of four key reforms announced in February 2021 to enhance the general...more
1/5/2024
/ Breach of Contract ,
Contract Termination ,
Contract Terms ,
Dispute Resolution ,
Force Majeure Clause ,
Good Faith ,
New Regulations ,
Penal Code ,
Personal Status Law ,
Regulatory Agenda ,
Sales ,
Saudi Arabia
On 14 April 2023, the Economic Cities and Special Zones Authority (ECZA) announced the launch of four special economic zones (SEZs) in the Kingdom of Saudi Arabia (the Kingdom) to accelerate the diversification of the...more
An otherwise viable business experiencing a cash flow crisis may seek relief under Chapter Four of the Kingdom of Saudi Arabia (“KSA”) Bankruptcy Law (“Bankruptcy Law”), a flexible statute that helps facilitate the financial...more
In conjunction with the Ministry of Justice of the Kingdom of Saudi Arabia (“KSA”), the Saudi Centre for Commercial Arbitration (“SCCA”) conducted a study into KSA legislation and confirmed that parties to Saudi arbitration...more
In September 2020, the UAE Cabinet of Ministers (the Cabinet) issued Law No. 26 of 2020 (the Amendment) which amended certain provisions of the UAE Companies Law No. 2 of 2015 (the Companies Law).
The amendments include...more
NMC Health plc (NMC Health) made news around the globe in December 2019 when it was the subject of a Muddy Waters report which alleged various bad acts had been carried out by the company. NMC Health was subsequently placed...more
10/15/2020
/ Abu Dhabi Global Markets (ADGM) ,
Coronavirus/COVID-19 ,
Fraud ,
Health Care Providers ,
Healthcare Fraud ,
Insolvency ,
Liquidation ,
London Stock Exchange ,
Popular ,
Receivership ,
UK ,
United Arab Emirates (UAE)
On 15 April 2020, the Cabinet of the Kingdom of Saudi Arabia (“Saudi Arabia”) issued a resolution approving the Pharmaceutical and Herbal Establishments and Substances Regulation (the New Pharmaceutical Law), providing a...more
Gas-to-Power in Africa: An Overview of Opportunities and Challenges -
WHAT IS GAS-TO-POWER?
“Gas-to-power” is a phrase that encompasses a trend of projects which involve directly using gas in power generation. The...more
1/29/2019
/ Africa ,
Capital Markets ,
Economic Development ,
Energy Projects ,
Energy Sector ,
Foreign Investment ,
Global Economy ,
International Finance ,
Joint Venture ,
Oil & Gas ,
Power Plants
Clean Water Agencies Propose to Redefine and Limit “Waters of the United States” -
The United States EPA and the United States Army Corps of Engineers are proposing to redefine—and significantly limit—the scope of “Waters...more
Recently, Abu Dhabi Global Market (ADGM), an international financial centre in Abu Dhabi, announced the launch of a new regulatory framework (the Framework) for operators of Private Financing Platforms (PFPs). PFPs will...more
The New Midstream Transactions -
A recent trend in the upstream and midstream oil and gas industry is for midstream services providers to offer certain forms of additional compensation to oil and gas lessees / operators...more
This article is a two-part article concerning the foreign ownership restriction (the Ownership Restriction) which is currently in force in the United Arab Emirates (the UAE) and recent announcements from the Cabinet of...more
Welcome to the Spring 2018 issue of measure, King & Spalding’s Middle East periodic newsletter. Following a host of legal developments in the region over recent months, we look at the following in this issue:
..Noting that...more
A number of food and beverage groups (particularly restaurant groups) access the Gulf Cooperation Council (GCC) markets through franchising arrangements. With a young and fast-growing population (many of whom spent time...more
Background -
On 21 December 2016, the Capital Market Authority of Saudi Arabia (the CMA) approved the Parallel Market Listing Rules (the Rules), thereby establishing the Parallel Market, an alternative market to the Main...more