NEOM Residential Communities Project Shortlisted for Project Finance Deal of the Year at 2023 IFLR Middle East Awards

DUBAI AND LONDON – Bracewell LLP was among the law firms recognized for its role representing the lenders in forming the multi-billion-dollar NEOM Residential Communities project in Saudi Arabia, which was shortlisted for Project Finance Deal of the Year at the IFLR Middle East Awards 2023.

Led by partners Tom Swarbrick, Oliver Irwin and Andrej Kormuth, Bracewell acted for the lenders (Alinma Bank, Banque Saudi Fransi, National Infrastructure Fund and Riyad Bank) to the bidding consortium led by Tamasuk Holding Company (and including Al Majal Group and SATCO) concerning the financing of the construction and operation of two large-scale residential communities for the NEOM megacity in Saudi Arabia. In addition, Bracewell, led by Tom Jamieson, advised the lenders (SABB/HSBC, Alinma Bank and Riyad Bank) to Nesma, also for the financing of two large-scale residential communities forming part of the same accommodation programme at NEOM.

This social infrastructure project – which will include accommodation units and lifestyle facilities such as sports fields, entertainment venues, dining, health clinics, mosques and other facilities – is one of the largest international public-private partnership projects for accommodation.

IFLR’s Middle East Awards honor the most innovative law firms in the region based on the research culminating in the annual IFLR1000 directory. Winners will be announced on October 17 at an awards ceremony in Dubai.