A&O Shearman Advised Al Marqab Investment Company On Landmark Solitaire Sale

A&O Shearman advised Al Marqab Investment Company on landmark Solitaire sale

The global law firm A&O Shearman has advised Al Marqab Investment Company on the sale of Solitaire, a 65,000 sqm GLA luxury mixed-use retail development hosting a luxury shopping centre in Riyadh, to a real estate investment fund managed by Alrajhi Capital and regulated by the Capital Market Authority (CMA).

Solitaire, which launched earlier this year, houses a number of prestigious brands across three floors, including Dior, Cartier, Loro Piana, and Tiffany & Co. The sale marks a significant milestone for the Saudi commercial real estate market, particularly in the luxury retail segment.

A&O Shearman partner Sultan Almasoud commented on the state of the sector: “This transaction is a clear reflection of the robust momentum we are witnessing in Saudi Arabia’s commercial real estate market, particularly in the luxury retail segment. The successful sale of Solitaire not only underscores the growing appetite among institutional investors for high-quality, income-generating assets, but also highlights the increasing sophistication and maturity of the Kingdom’s real estate sector.”

The A&O Shearman team advising on the matter was led by Riyadh-based partners Sultan Almasoud and Mohsin Suleman, with further support from associates Sanjarbek Abdukhalilov, Aseel Alkathiry, Khaled Albakr, and Lama Alshaiban.

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