Real
Estate

OVERVIEW:

Our real estate team has a reputation for offering pragmatic, commercially-focused advice on all manner of commercial and residential transactions.

Our clients include major property companies, institutional investors, and public sector organisations. We advise on investment acquisitions and disposals, development projects, sale and leasebacks and other real estate structures as well as the more routine landlord and tenant matters such as relocation and lettings through to handling litigation.

ASAR also enjoys extensive experience with the construction industry’s requirements throughout the Gulf region, and can assist clients on all matters arising from inception to completion of construction projects. ASAR is also proud to have a practical and in-depth understanding of the legal environment applicable to construction projects in the Gulf region.

We advise on a wide scope of matters related to construction projects including the tender process, contract drafting (including applying recognized standard forms), offset requirements, local zoning requirements, advice at pre-contract and contract stages, owners’ claims for delays and defects, general dispute resolution, contractors’ claims and settlement agreements.

EXPERIENCE:

  • Advised a Saudi Bank regarding its provision of a facility of SAR 400 million to a Kuwaiti real estate company.
  • Currently acting as legal counsel to Al Dhow Investment Company KSC in relation to the structuring of the acquisition of real estate projects in Kuwait and the MENA Region.
  • Provided legal advice to the contractor undertaking the refurbishment of Kuwait International Airport Passenger Terminal II Building.
  • Advised Pegasus Medical Services on various legal structures for the purposes of pursuing an investment opportunity which aims by way of acquisitions, mergers and greenfield development, to maximize the future business potential within the non-hospital based healthcare delivery value chain services by way of implementing proven strategies in business management and healthcare economics throughout the Gulf Cooperation Council (GCC) region.
  • Currently acting as legal counsel to Al Dhow Investment Company KSC for the structuring of financing of the Phonecian Village Real Estate Development Project.
  • Provided general legal advice to its client for the construction contracts contemplated for purposes of constructing the new Central Bank of Kuwait premises.
  • Acted as legal counsel to United Real Estate Company on the sale of residential units in United Towers.
  • Provided legal advice to a major logistics company in Kuwait that was reorganizing the ownership structure of Kuwait Real Estate Company and its underlying assets.
  • Acted as legal counsel to MENA Real Estate Company in structuring and drafting the documentation for various real estate transactions of a total value of approximately KD 20 million.
  • Provided legal assistance to MENA Real Estate Company for its structuring of a proposed real estate project in Mecca.
  • Acted as legal counsel to Al Salam Bank Bahrain Bsc. on a guarantee between Kuwait Housing and Construction Company K.S.C and Al Salam Bank Bahrain for a real estate development project.
  • Reviewed and provided legal advice to the National Bank of Kuwait on various agreements concerning land conveyance agreements, the management agreement and the private placement memorandum for the Al Aseme Real Estate Project.
  • Provided legal advice to Gulf Investment Incorporation for the sponsoring of the establishment of a Fund or special purpose vehicle that would purchase real estate in the GCC countries.
  • Provided legal advice to the developer on the development of Lake Assad hotel and residential complex development real estate project in Northern Syria.
  • Drafted the Concession Agreement and negotiated the terms with the Egyptian government and a consortium of Kuwaiti companies for the establishment and operation of a mall in Egypt.
  • Advised the lead manager for the Islamic Financing of Water Front Phase V Project on the Islamic Financing structure. ASAR also provided advice and assistance in the drafting of commercial leases for the property developed (Marina Mall).
  • Reviewed and provided legal advice to Al Ghannam Medical Services Co. on the development and construction of a hospital.
  • Acted on behalf of KEO International for a litigation matter concerning a major construction project.