UAE In Brief
With its GNP per head among the highest, the United Arab Emirates is in a sustained period of growth, and can be viewed as one of the world’s most vibrant economies. Historically, the emirates have been dependent on hydrocarbons, but progressive and successful government economic diversification aims to ensure that the UAE would be relatively shielded from the dwindling of natural reserves and fluctuations in oil prices.
A dynamic economy has led to an influx of new entrants in the legal market, which is seeing continued high levels of work for the leading law firms. Lawyers from both local and international firms are featured in the following pages, and we have identified 190 eminent professionals across 16 practice areas. Inevitably, a number of practice areas are more developed than others and some of the lawyers we identify will not specialise exclusively in the practice area for which they are nominated. Whether the lawyers listed in this directory are specialists or have broader practices, they all demonstrate outstanding legal ability. They have been recommended by clients and peers for their local work, and in some cases for work throughout the region, and internationally. The following firms stood out for the depth and breadth of the expertise they command.
Analysis: UAE
Editorial: Arbitration in the UAE
Commercial arbitration is growing in popularity in the United Arab Emirates.
Editorial: Aviation in the UAE
So far 2008 has been a boom year for the United Arab Emirates' aviation industry, with Etihad Airways, the country's national airline, enjoying a 41 per cent rise in passenger figures since 2007, and 3.5 million passengers using Abu Dhabi airport alone between January and May.
Editorial: Banking in the UAE
Banking in the UAE is feeling the benefits of a black gold-rush. The boom in oil prices has led to increased government spending on infrastructure and an uptick in corporate lending. A study by AMEinfo reported a double-figure increase in bank income over 2007, which has shown no signs of slowing in 2008.
Editorial: Capital Markets in the UAE
Capital markets in the UAE look set to maintain their upward trajectory despite the international monetary crisis that is curtailing activity in much of the rest of the world, thanks to liquidity arriving from government investment, oil profits and outward investors.
Editorial: Commercial Litigation in the UAE
Litigation before the local courts is restricted to UAE nationals, and as a result, local firms dominate the litigation listings. International firms are, however, starting to make their mark on the scene, and are able to work on international matters and appear before the courts at the Dubai International Financial Centre, which counts as an independent jurisdiction. These parallel outlets allow local and international firms to excel in the litigation sphere despite the apparent restrictions.
Editorial: Construction in the UAE
The United Arab Emirates has a strong claim to be the most active construction market in the world. Driven by oil revenues and with high levels of demand across sectors such as housing, hotels and infrastructure, it is said that one-third of all the new concrete in the world is poured in the UAE. This heightened activity is unsurprisingly reflected in a busy legal market, with local and international firms making an impact in our research and 19 individuals appearing overall.
Editorial: Insolvency & Restructuring in the UAE
The UAE has been in constant economic boom. The liquidation of Forsyth Partners in 2007 was the first and only involving a firm from the Dubai International Financial Centre.
Editorial: Insurance & Reinsurance in the UAE
The UAE insurance and reinsurance market has enjoyed sustained growth in recent years, and is today among the largest in the Middle East.
Editorial: Intellectual Property in the UAE
The intellectual property bar in the UAE is small and its lawyers' practices are often broad in scope. The lawyers selected for inclusion in this chapter have experience dealing with a variety of IP issues, ranging from the registration, maintenance and enforcement of trademarks and patents to dealing with intellectual property rights on the internet. This chapter identifies five individuals from the Dubai offices of three established firms.
Editorial: Islamic Finance in the UAE
Investment in Islamic-compliant funds has tripled over the past five years and according to the Financial Times, the Islamic finance industry is now worth an estimated US$800 billion. Although it has not completely escaped the recent global financial turmoil, experts predict that the abundance of liquidity in the region, coupled with the ever-growing appetite for financial products that comply with sharia law will mean that the list of Islamic-sanctioned financial instruments will continue to grow. With this in mind, there is a similarly great demand for legal expertise in this area and this chapter identifies 12 practitioners who are regarded by their peers as leaders in the field.
Editorial: Merger & Acquisition in the UAE
The United Arab Emirates is a hive of M&A activity, largely bucking the downturn in transactional volume in the rest of the world. Its importance is reflected by the muscular presence of several heavyweight international law firms, including several from the UK's Magic Circle.
Editorial: Oil & Gas in the UAE
Hydrocarbons remain the predominant source of public revenue in the UAE, accounting for one-third of the country's gross national product. Government estimates indicate that the region's reserves account for roughly 9.5 per cent (98.2 billion barrels) of the world's crude oil and 4 per cent (5.8 billion cubic metres) of its natural gas. With this in mind it is unsurprising that a number of major international law firms have set up shop in the region, all 16 nominees in the following pages hail from subsidiary offices of multinational firms.
Editorial: Private Funds in the UAE
Private fund formation in the UAE is becoming increasingly sophisticated, and it is starting to catch the rest of the world's attention. Abu Dhabi is home to the world's largest sovereign wealth fund: the Abu Dhabi Investment Authority (ADIA), which is starting to invest heavily in Western companies. Liquidity is strong, despite financial problems elsewhere in the globe, and the UAE is attracting a large number of investors.
Editorial: Project Finance in the UAE
Project finance activity in the Middle East is continuing to boom and the UAE remains a hub for big-ticket project financings. This chapter identifies 21 practitioners who are considered by clients and peers to be the leading lawyers in this area. The individuals listed here have experience advising governments, sponsors, banks, ECAs, MLAs, regional funding entities and project companies on financings throughout the region.
Editorial: Real Estate in the UAE
From the ever-impressive Palm development to a hotel to be designed by Hollywood star Brad Pitt, the UAE's expanding real estate portfolio has caught the attention of the world. As the region's real estate sector booms, a new foreign investment law designed to facilitate and regulate foreign investment and due to come into force after 2008 is only expected to increase the influx. In a jurisdiction where construction law has traditionally been more prominent than real estate law, firms have spotted the opportunity to further aid their clients by tapping into this practice area. Practitioners able to keep pace with the changes in the law in this increasingly sophisticated market are essential in such circumstances, and seven lawyers from six firms make the grade, a mixture of local and international experts.
Editorial: Shipping & Maritime in the UAE
Home to 15 major seaports including Jebel Ali, the world's largest man-made harbour, and with 2007 exports estimated to be worth in excess of US$156 billion, the UAE is one of the most sophisticated trading hubs in the Middle East. Part of the Abu Dhabi Chamber of Commerce's "2030 Strategy" is the further cultivation of an "export-orientated economy"; an initiative that means the docks will remain of central importance to sustained growth in the region. The 12 lawyers in this chapter hail from seven firms, local and international, and are uniquely placed to take full advantage of this dynamic and evolving shipping market.
Firm Profiles: UAE
Al Tamimi & Company
Established in 1989, Al Tamimi & Company is the largest local, non-affiliated law firm in the UAE with offices in Abu Dhabi, Dubai and Sharjah. Further offices in Baghdad and Doha, and a combined staff of nearly 150 attorneys, make it one of the giants of the Middle East.
Allen & Overy
Allen & Overy’s Dubai office celebrates its 30th anniversary this year, making it one of the oldest multinational subsidiary offices in the UAE.
Clifford Chance LLP
Clifford Chance LLP is one of the longest-standing members of the international legal community operating out of the United Arab Emirates. The firm’s first office in the region opened in 1975 in Sharjah and it now has over 75 lawyers (11 of whom are partners) based in Dubai.
Clyde & Co LLP
Clyde & Co has an eminent reputation in the UAE. With offices in Abu Dhabi and Dubai, the firm has been operating in the region for over 25 years and has more than 130 practitioners on the ground across their Middle East regional offices.
Hadef & Partners
Hadef & Partners was founded in 1980 and is one of the oldest local firms in the UAE, and with seven entries in five chapters it proves itself to be one of most highly respected.
Herbert Smith LLP
Herbert Smith “is constructing an excellent practice” in the United Arab Emirates. The firm first opened an office in Dubai in early 2007, to provide corporate finance, dispute resolution and projects support to its clients.
Linklaters LLP
Linklaters LLP is a Magic Circle firm with 30 offices in 23 countries. It has been active in the Middle East for over 30 years and opened its Dubai office in 2006 with the prominent lateral hire of Ewan Cameron, former head of corporate and securities at Clifford Chance’s Dubai office.
Shearman & Sterling LLP
Shearman & Sterling LLP has been active in North Africa and the Middle East since the 1960s, setting up its Abu Dhabi office in 1975 on the back of strong links to clients in the oil and gas sector.
Simmons & Simmons
Simmons & Simmons is an international full-service firm with over 2,000 staff and 20 offices worldwide.
Corporate Counsel Q&A: UAE
UAE Corporate Counsel: Andrew Wright
Andrew Wright, Managing director, legal, Dubai International Capital LLC.
With around US$13 billion of assets under management, Dubai International Capital LLC's focus on a mix of emerging markets transactions, public and private equity from its Dubai base is paying dividends in the region's fast-growing market.
UAE Corporate Counsel: David Nicholson
David Nicholson, General counsel, Nakheel.
The company behind some of the UAE's iconic structures, Nakheel, which translates from the Arabic as "palm trees", was founded in 2003.
UAE Corporate Counsel: Robert Swade
Robert Swade, Chief legal officer and company secretary, Jumeirah Group
Last year the World Economic Forum published its first global travel and tourism competitiveness report, in which the UAE placed eighteenth overall: the highest ranking of any country in the MENA region [the Middle East and North Africa region, extending from Morocco to Iran].
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Nominees have been selected based upon comprehensive, independent survey work with both general counsel and private practice lawyers worldwide. Only specialists who have met independent international research criteria are listed.