Law Firm Highlights

• An expert guide on “Doing Business in Dubai” was produced by Al Tamini & Company, in collaboration with Emirates, as part of their larger “Doing Business in Dubai” series. With Dubai’s economy expected to increase by around 4.7 per cent this year to 5 per cent in 2015 (predicted by the Department of Economic Development), the book is aimed at supporting long-term growth of the economy by providing comprehensive information about operating a business in Dubai along with thorough details on the topics of relocating operations within Emirates, business structures and employment issues. Dubai’s market potential to attract foreign entities to set up shop here is large owing to benefits like zero tax, 100 per cent foreign ownership, skilled workers and central geographical locations for access to both Eastern and Western markets. The book also aims to provide individuals and companies with a thorough understanding of business and legal aspects of operation in the country.
• Clifford Chance partnered with its relationship firms from across Africa to invite over 50 clients with business interests in the African region to participate in the African Counsel Retreat. The two-day event was hosted in London and provided legal and commercial insights into doing business in Africa. The highlights of the retreat were the focus on merger control and competition enforcement, risk and reputation management and the role of Islamic financing as an alternative source of funding across the continent.With the Republic of Senegal raising CFA100 billion (approximately USD200m) via its first sukuk earlier this year and more recently the Republic of South Africa raising USD500 million through its debut sukuk offering, Islamic banking and sukuk issuances are on the rise across the continent.
• Clyde & Co is all set to open a fully-integrated firm in Riyadh after obtaining the formal approval from the authorities in the Kingdom of Saudi Arabia (KSA). They have been providing counsel to their clients in Saudi Arabia since 2009 through their associated law firm in Saudi Arabia, Abdulaziz Al-Bosaily Law Office. Being the second law firm to operate in KSA without the traditionally associated office structure, the approval provides a larger platform for Clyde & Co to expand its KSA business. Abdulaziz Al-Bosaily will act as general manager of the newly-established firm and will jointly operate the firm. Abdulaziz is a leading corporate & commercial lawyer in KSA and former general counsel of the Saudi Arabian General Investment Authority (SAGIA). He was recently named 'External Counsel of the Year 2013' by Asian MENA Counsel's annual 'Representing Corporate Asia and Middle East Survey of over 20,000 in-house counsel based across the Middle East and Asia.
• The International Financial Law Review (IFLR) Middle East Awards ceremony was hosted by the Burj Al Arab on October 15, 2014 in Dubai. Allen & Overy won an impressive five awards at the IFLR) Middle East Awards including the prestigious “International Firm of the Year” award for the second year in a row. They also bagged the “Debt and Equity-Linked Deal of the Year “and “Project Finance Deal of the Year” along with two “Team of the Year” accolades for their debt and equity-linked and project finance teams. Al Tamimi & Company also won an outstanding five awards at this year’s IFLR Middle East Awards including “M&A deal of the year,” “Project Finance deal of the year,” “UAE law firm of the year,” and “Jordan law firm of the year.” Husam Hourani also won the highly coveted “Managing Partner of the year” award for the second year running. K&L Gates was awarded an “Equity Deal of the Year” Award for its work on the Emirates REIT IPO. Emirates REIT is the first Shari’ah compliant regulated real estate investment trust incorporated in DIFC. Its IPO raised USD201 million and was over-subscribed 3.5 times.  In addition to being the first IPO in the UAE since the 2008 crash, this was the first-ever IPO of a DFSA regulated real estate investment trust, with the prospectus and IPO documentation being fully Shari’ah-compliant, giving K&L Gates unique experience in the region.
• International law firm, Bonnard Lawson, has officially opened its Dubai firm. The office, situated at Al Habtoor Business Tower in Dubai Marina, started operations after acquiring its license from the Government of Dubai Legal Affairs Department. The Dubai branch is strategically positioned to act as the firm’s core for the entire MENA and surrounding regions.The firm, originally founded in Switzerland in 1998, has offices in Geneva, Lausanne, Luxembourg, Paris and Shanghai. Banking and finance, dispute resolution, corporate and commercial and private client services are some of the areas that they specialize in. They have additional expertise in the niche market of Sports, Entertainment and Art law. The firm’s Dubai lawyers are registered practitioners with the DIFC courts.
• Simmons & Simmons has expanded its association with Jeddah-based firm Hammad & Al-Mehdar by inaugurating a new firm in Riyadh with an exclusive event held at The British Ambassador’s Residence in Riyadh. Riyadh, being the main financial and administrative centre of the Kingdom, is the apt location to inaugurate the office and reveal both the firm’s commitment to grow in the Saudi Arabia region.