Greenberg Traurig Khalid Al-Thebity has become one of only a few law firms to obtain a Regional Headquarters (RHQ) licence to operate in the Kingdom of Saudi Arabia (KSA).
The RHQ programme came into effect on January 1, 2024, requiring multinational businesses to move their regional headquarters to Saudi Arabia should they wish to contract with government organisations, agencies, or funds.
It is part of Vision 2030, which aims to grow the Kingdom’s economy by diversifying the private sector.
In line with the programme, the firm’s KSA office becomes the regional business hub for its operations in the UAE and wider Middle East, which it said in a statement is “ideal” due to the Kingdom’s “strategic location, robust infrastructure, and business-friendly environment”.
Greenberg Traurig’s executive chairman Richard A. Rosenbaum, said in a statement: “Greenberg Traurig has been intensely executing its long-term vision to be a true leader in the Middle East, nowhere more evident than in the Kingdom of Saudi Arabia—such an important driver of innovation and regional and global business growth now and going forward.”
“With a significant presence in the KSA and UAE, accelerating in just the most recent six months, we are deeply committed to our further strategic expansion in the region,” he said.
Greenberg Traurig operates through Khalid Al-Thebity Law Firm in Riyadh. It is led by regional veteran Khalid Al-Thebity, who will be appointed managing director of the RHQ, according to the statement.
“Greenberg Traurig has demonstrated an unwavering commitment to the Middle East region through its strategic geographic footprint and comprehensive suite of practice areas perfectly tailored to our clients’ needs,” said Al-Thebity. “The ability to anticipate market demands, coupled with a stellar global reputation and the exceptional legal talent assembled, Greenberg Traurig can help collectively work towards realizing the ambitious goals of Saudi Arabia’s Vision 2030.”
The news comes amid a flurry of activity in Saudi Arabia as the Kingdom seeks to attract law firm investment at the same time as it reforms its practice rules.
Kirkland & Ellis was the first international law firm to establish its Riyadh office as its regional headquarters, though it only has one office in the Middle East. Other law firms to do so include DWF, Clyde & Co, Latham & Watkins, and White & Case.
