The 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 edition
Dubai, 25 September 2018: Al Tamimi & Company, the largest law firm in the Middle East, is delighted to announce that it recently led the launch of Vista Global, a first-of-its-kind private aviation company which has chosen Dubai as its global headquarters. Vista Global is the world’s first provider of a full range of private aviation services and solutions, from flights through to technology and financing. Established by Swiss billionaire, Thomas Flohr, the company has ambitious growth plans in the Middle East region and beyond. Since setting up its base in DIFC, Vista Global this week acquired XOJet, the largest on-demand aviation business service provider in the US, representing the first milestone in its global expansion strategy.
As lead advisers, Al Tamimi & Company’s team of experts played an integral role in the unique and highly dynamic process to set up Vista Global’s headquarters in DIFC, the leading regional financial centre serving global businesses from all destinations. This decision is underpinned by Dubai’s growing strength as a global business hub, strategic location between the East and West, as well as the emirate’s world-class infrastructure facilities and strong regulatory framework.
Fady Ghanem, Partner in Corporate Structuring at Al Tamimi & Company and lead partner on the deal, commented, “Dubai has been making huge strides in establishing itself as a global business hub, reforming legislation in order to make it an attractive business hub for international brands and investors. Vista Global’s decision to locate its global headquarters here is a prime example of how these efforts are paying off and the UAE’s rise as a ‘preferred choice’ for global companies looking to set-up in the region. The team at Al Tamimi & Company is honoured to have been given such an important role in helping to launch this revolutionary and disruptive aviation group in the region and beyond.”
“The firm’s investment and technological capabilities combined with its growth aspirations, makes it a formidable force to reckon with globally. Vista Global’s presence in Dubai will shape the course of the private aviation sector in the region and take it to new heights,” Fady added.
The launch of Vista Global is backed by longstanding supporters of Thomas Flohr’s enterprises, the global private equity firm Rhône Group. The financial group is investing an additional $200 million, strengthening Vista Global’s balance sheet as it looks to take advantage of future acquisition opportunities.
In an earlier statement, Thomas Flohr said: “Vista Global has been my vision ever since I started VistaJet in 2004. I wanted to create something truly new, something that would industrialize and consolidate the fragmented business aviation market across the entire range of flight service offerings. The Middle East is a wonderful location for us to be at as it provides access to two-thirds of the world population. And within the region, the DIFC serves as a best fit for Vista Global because of its world-class infrastructure connecting regional markets to global economies.”
Vista Global plans to expand its fleet in the near future, further strengthening its current global coverage and infrastructure to serve every customer’s needs around the globe.
Learn more about Vistajet services here