The final Law Update of 2022 is here, and it’s packed full of articles. The double edition features two focus areas, first is a spotlight on Energy and Resources and second we feature a collection of articles on Transport and Logistics. The developments occurring in these sectors in the MENA region are unprecedented and our lawyers cover vast themes for you.
The Energy and Resources focus features topics such as diversifying energy resources, solar PV, mining in the Middle East, renewable energy and green hydrogen. From a transport perspective, we draw attention to the Bahrain metro project, discuss the challenges and remedies associated with the repossession of an aircraft, and there is advice on what to consider should a party vary the terms of a shipping contract.
This edition navigates you through updates from across jurisdictions such as, Oman, Jordan, Saudi Arabia, Egypt, Iraq, Qatar, and the UAE. Each article is timely and provides insights into legal issues and cases that are affecting these sectors across the region.Read the full edition
Al Tamimi & Company advised Al Mal Capital on the establishment of the Al Mal Capital REIT, which recently gained approval from the Securities and Commodities Authority (SCA) to float on the Dubai Financial Market (DFM). This IPO is a first of its kind in the UAE for the financial sector being the first REIT listed with an onshore exchange. With a target offer size of AED 500m, it will also be the first IPO in Dubai since 2017.
Leading investment advisory and asset management company, Al Mal Capital, will be seeking to invest in a diversified portfolio of income-generating UAE real estate assets backed by long-term lease agreements predominantly in the industrial, healthcare and education sectors. In a difficult market, this deal represents the second IPO announced by the Al Tamimi team in a month after the successful IPO of UAE tech company, Yalla Group Limited.
Al Tamimi’s Deputy Managing Partner & Regional Head of Banking & Finance, Jody Waugh, commented: “We are delighted to support and act as an integral part of the Al Mal Capital team and excited to see the DFM as the choice for the first onshore listed REIT. The recent drop in real estate assets has created an opportunity for new investors and new business creation – it’s great to see a leader like Al Mal Capital take advantage of this and support the UAE’s future development.”