Winston & Strawn advises Abu Dhabi Islamic Bank

Winston & Strawn LLP represented Abu Dubai Islamic Bank (ADIB) as Mandated Lead Arranger in an AED310 million (USD84m) syndicated development financing for Tamouh Investments.

The transaction will fund the final phase of the construction of Tamouh’s Paragon Bay Mall in Marina Square, Reem Island, Abu Dhabi.

Winston & Strawn Dubai-based partner, and chair of the firm’s Islamic Finance Practice, Shibeer Ahmed and Associate Shaheer Momeni acted as ADIB’s lead counsel on the transaction.

The ten-year project financing provided by ADIB, which was the mandated lead arranger and sole bookrunner for the transaction, will see Paragon Bay Mall become a hub of leisure, entertainment, and retail. It will be the first lifestyle community shopping centre on Reem Island to offer waterfront dining.