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Law Update: Real Estate, Construction & Hotels
The regional real estate, construction and hospitality sectors have been turned upside down over the last two years, with Covid-19 bringing these sectors to a halt. The impact of the pandemic remains, however, the resurrection of these vital sectors across the region is a welcome relief because they support the development of modern cities, which in turn have attracted commerce and tourism to the Middle East and North Africa.
This latest edition of Law Update, provides vital insights, updates and commentary on the latest trends taking shape across the real estate, construction, hotels and leisure sectors. The articles within this edition cover a broad range of topics, from what’s next for real estate in Dubai, to commentary on Saudi real estate, a market that is set to become the main bedrock of the region for years ahead. You will find articles on reforming real estate laws in Qatar, foreign investment and ownership in Oman, and mitigating risks on hotel construction projects and the lessons learnt from Covid.
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A complete spectrum of legal services across jurisdictions in the Middle East & North Africa.
Aurangzeb Maqsood
Senior Associate
Biography
Aurangzeb has over 7 years of experience in advising on banking and finance transactions. He has particular expertise in advising on infrastructure and energy projects.
Aurangzeb also specialises in conventional finance, Islamic finance, and creation of securities across various jurisdictions. He is a member of the Banking and Finance sector group.
Prior to joining Al Tamimi, Aurangzeb worked for more than five years in Pakistan, where he worked on several pioneering energy sector projects. Following which in 2021, Aurangzeb started handling banking and finance transactions in the MENA region.
Recent Experience
- Neutral Fuels Overseas Holdings Limited, a UAE based company on appointment of a global security agent and local sub-security agent in each jurisdiction where its subsidiaries were due to create security in relation to the issuance of US$50,000,000 secured fixed rate notes.
- Novelis MEA Ltd, a UAE based company, on an uncommitted receivables purchase agreement; completion of conditions precedents; vacation of prior charges on the receivables; and for the issuance of a clean sale legal opinion in relation to the sale of receivables.
- Bodysmart Investment Group PLC and Linklease Finance PLC, both UAE based companies, in drafting the UAE law governed security documents.
- GFH, in relation to the structuring of two Murabaha facilities and a shareholder loan.
- Syndicate of banks including International Finance Corporation, Asian Development Bank and Islamic Development Bank, acting as lenders to finance the construction of 3x50MW wind power projects in Pakistan.
- Shanghai Electric Group Corporation, as sponsors of a coal-mining facility and a coal-powered power generation project, which was a priority CPEC project and a part of the Belt and Road Initiative.
Language(s)
- English
- Urdu
Education
2015 – Bachelors of Arts and Bachelors of Law, Lahore University of Management Sciences (LUMS)
Admission
2018 – Punjab Bar Council
2020 – High Courts of Pakistan
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