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Legal market overview
The Kingdom of Saudi Arabia remains a strong and stable legal market, underpinned by the attractiveness of its vast oil reserves. The market has become busier since 2012, especially in the context of project finance and infrastructure. There is also a strong push by the government to diversify into renewable forms of energy, and this trend is reflected in the healthy flow of projects work seen by many firms.
The competitive scene remained relatively undisturbed in 2013, although a number of international law firms formed new associations through which to practise in the market: these new associations include Zeyad S. Khoshaim Law Firm in association with Allen & Overy LLP, Simmons & Simmons in association with Hammad Al-Medar & Co. and Abdulaziz AlGasim Law Firm in cooperation with Linklaters (Riyadh), wherein the local entity had previously worked alongside Allen & Overy LLP for five years. Al-Jadaan & Partners Law Firm in co-operation with Clifford Chance LLP remains a solid alliance and strong market leader; it is set to become the first international firm to gain a licence to practise in its own right in Saudi Arabia.