Synergy Consulting was the Financial Advisor on the East-West Residential Compounds Project, one of the largest Housing PPP Projects closed under Saudi Aramco framework.
Synergy Team worked with all stakeholders involved including the client, lender, legal advisors and Saudi Aramco team in negotiations and finalization of project agreements leading to commercial close.
Synergy Team played an instrumental role in negotiations with potential lenders, and supported the client during the due diligence and financing document negotiation process, leading to Financial Close. The Project achieved Financial Close in September 2021 with a total financing of over USD 500 MN.
The Project will include development of six new residential compounds inclusive of life-support and recreational facilities. These will be built for ~1,700 Saudi Aramco employees at six different sites along the 1,200 km long East-West pipeline in KSA on a Build-Own-Operate-Transfer (BOOT) basis. The Project Company (East & West Real Estate Development Company) has signed six separate Lease Agreements for the compounds with Saudi Aramco.
The initial concession term will be 20 years, in addition to ~3 years of construction period. Synergy congratulates all stakeholders for successfully achieving this milestone.