Norton Rose advises on USD500 million deal

The Dubai office practice Norton Rose has
advised Emaar Properties PJSC and Emaar
Turkey in relation to a USD500 million
syndicated loan facility for the financing
of the construction of Emaar Square, a
USD2 billion mixed use residential and
commercial development in the Üsküdar
district in Istanbul, Turkey.

The facility was arranged by Standard
Chartered Bank, Emirates NBD Capital
Limited and HSBC Bank Plc.

Norton Rose partner Matthew Escritt,
commented, “Over the last couple
of years we have seen strong investor
interest in the Turkish market We
were delighted to be able to use our
experience in this market to advise Emaar
in relation to this high-profile project in
a jurisdiction which presents a number
of complex challenges for projects of
this nature. This is the latest in a series of
Turkey-based transactions on which we
have advised and further evidence of the
strength of our Turkish practice.”

The Norton Rose team was led by
partner Matthew Escritt and senior
associate Martin Botik.