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Find out moreThe first Law Update of 2024 is here, and our first focus of the year spotlights Healthcare and Lifesciences, a sector that is undergoing significant growth and development across the MENA region.
Our focus provides an insight into some of the most important regulatory updates across the region, such as the UAE’s groundbreaking law on the use of human genome, Kuwait’s resolution on nuclear and radioactive materials, the new regulations for healthcare services in Qatar, Egypt’s healthcare regulatory framework, and the impact of the Saudi Civil Transactions Law on the healthcare and life sciences sector … and there is so much more!
Beyond the healthcare pages our lawyers share with you multi-sector insights where you will discover articles on Dubai’s DIFC regulatory framework for startups, Bahrain’s commercial agencies law, and we also shed light on Kuwaiti civil code and the advantages of setting up a joint stock company in Saudi Arabia.
Read the full editionAl 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.”
The Al Tamimi team was led by Senior Partner, Husam Hourani, and Jody Waugh, with support from Senior Banking & Finance lawyer, Ali Awad, and Senior Corporate Commercial lawyer, Carla Saliba.
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