Formidable across a host of financing mandates - including project financing, debt financing, restructuring and insolvency, and most importantly Islamic financing - the team at Clifford Chance is highly regarded for its ability to act for a wealth of local and international banks on blockbuster transactions, regularly involving some of the globe’s leading financial services, investment managers, and industry conglomerates. Boasting both a dedicated global Islamic finance practice and a dedicated financial services and regulatory team in the region, the deep team is led by Qudeer Latif, a market-leading figure in Islamic financing. Graham Brewer and Mohamed Hamra-Krouha are highly experienced advisers to financers, sponsors and borrowers on a wide array of deals; Brewer specialises in acquisition financing and refinancing mandates, while Hamra-Krouha focuses on the financing of large-scale projects out of the Ahu Dhabi office. Stephen Chance, who is also based in Abu Dhabi, is a key figure for asset finance work. Senior associate Bola Coker also comes recommended.

Linklaters is capable across a wide range of cross-border financing and refinancing work - notably in relation to real estate and infrastructure projects – with key expertise in Islamic financing underpinning the firm’s offering. Practice head Kieron Zaman is a formidable adviser who is well versed in all manner of financing deals, particularly structured and restructured syndicated financings. Fellow team-head Reem Al Sayegh – noted for his regulatory expertise – is a frequent port of call for many clients interested in real estate and infrastructure lending. Recommended for his proficiency in cross-border debt finance transactions, Valery Nformba provides key support on a number of the team’s key engagements. Senior consulant Christian Saunders joined the team in April 2023.

Helming high-profile deals for a mix of leading industry players, White & Case LLP excels across the entire range of financing mandates with notable strength acting on landmark energy and infrastructure projects alongside construction and real estate developments. An enviable client list includes private credit and direct lending entities who view the firm as a go-to in the region for relevant financing advice, as well as premium financial institutions – both domestic and international – and major publicly-traded companies. The firm fields a string of experienced practitioners as team heads, including the Dubai-based Claire Matheson Kirton who is prominent adviser to government related entities on both conventional and Islamic financing; Debashis Dey, who complements his cross-border prowess with expert knowledge of Islamic financing and capital markets; and William Watson who has established strength in debt financing. Acting out of Abu Dhabi, Alexander Malahias is the fulcrum of the group’s considerable project financing offering, sharing the workload with Antoine Cousin who is a formidable PPP adviser. Adam Pierson wields a commendable regional practice, working for clients such as NEOM Company, Saudi Aramco and the Ministry of Water and Irrigation for Jordan, while Yasser K. Riad has experience acting on energy deals across the Americas, Europe and Asia.

Al Tamimi & Company has an international reach that is leveraged on far-reaching deals for a wealth of banks and industry players centred in UAE and the wider region. The team handles complex project financing, debt capital market work, asset and trade financing, and restructurings and insolvencies, and is noted for its strength in digital currency transactions and regulatory advice and reform. A core component of practice head Husam Hourani‘s offering includes Sharia-compliant financing and capital market deals, and he remains an expert in regulatory matters. Jody Waugh routinely works with major financial institutions on a wide array of banking and financing mandates, while Mark Brown‘s proficiencies are largely concentrated in transactional lending and restructuring and insolvency issues. Both Ashish Banga and Muhammad Ammad Yasin provide key support on a host of deals.

A number of premium credit providers and lenders turn to the team at A&O Shearman for assistance with syndicated loans for international joint ventures, acquisitions, and leveraged finance transactions. The group is particularly involved in major project financings in the energy and digital infrastructure space, where team head Joe Clinton demonstrates notable expertise. Samer Eido remains the go-to practitioner in the firm for Islamic financing counsel, excelling at debt restructuring and acquisition financing, while Anthony Traboulsi is a port-of-call for both domestic and international financial institutions seeking lending advice. Associate Haifaa Ibrahim is recognised by clients for her professionalism and ability to handle complex issues. Julian Johansen retired from the practice in February 2023.

 

 

Dentons is well-regarded for its strong financing offering, excelling in both conventional and Islamic transactions The team acts for various regional financial institutions, leading industry corporates, government bodies and multilateral agencies, and has been notably active on ‘green’ deals, including sustainability-linked financings and bonds, as well consequential real estate and transport mandates. Alex Roussos and Stephen Knight co-lead the practice; the former is noted for his debt-financing and capital market capabilities, while the latter is recommended for his project finance expertise. Udayan Mukherjee is active on both the lenders and borrowers side on a mix of acquisition, project, and sustainability-linked financings, while Qasim Aslam continues to be an eminent practitioner regarding Islamic financing. Umera Ali is noted for his capabilities in cross-border matters.

Advising on the full range of conventional and Shariah-compliant financing deals, Norton Rose Fulbright regularly acts for some of the largest regional banks and financial providers, and show notable proficiency in real estate, logistics and energy. Practice head Mohammed Paracha is a competent cross border adviser whose recent work highlights include financings for major property, hospitality, residential and office space developments, while Nicholas Robinson is a key figure for both regional and international banks and possesses a wide portfolio of work. Counsel Seya Rahnema has a considerable Islamic financing offering. A spate of hires and partner relocations have strengthened the Dubai offering, with Hamed Afzal – previously of Akin – and Marc Hamilton joining in November 2022 and March 2023, respectively. Between them, they bring strong expertise in debt capital markets and regional asset financing. Since publication, Robin Balmer left the firm.

Addleshaw Goddard consolidates its status as a go-to firm for financing in the UAE through the hire of Sandeep Puri, an experienced Islamic banking specialist who joined the team from Baker McKenzie LLP in August 2023. The firm is noted for its strength in debt capital markets, structured finance, and complex restructurings, advising a range of major domestic and international banks. Practice head Robin Hickman maintains a broad sector focus, covering real estate, infrastructure and energy, and TMT, where he advises a host of government bodies, corporations, and multinational banks. Victoria Mesquita acts for both borrowers and lenders on high-value, cross-border deals, where she is regularly supported by managing associate Philip Chalmers.

Possessing a full service offering with a considerable global reach, Afridi & Angell acts for a range of domestic and international banks, with strong expertise in Shariah-compliant transactions, debt and project financing, and cross-border lending. Recent work highlights include complex, multi-billion dollar revolving credit facilities, Ljarah and Murabaha facilities, as well as a host of restructuring and refinancing mandates. The multi-skilled team head Bashir Ahmed advises on a number of loans, syndications and regulatory matters. Co-head Rahat Dar is a prolific adviser who is very well-versed in both conventional and Islamic financing.

Energy and infrastructure project financing work forms the flagship component of Ashurst LLP’s UAE offering, with the team helming high-profile deals for a mix of leading industry players. Fielding a range of multi-disciplinary specialists across their extensive global network of offices, the group are able to act on major, cross-border developments and builds with complex aspects – including Islamic financing. Managing partner and practice lead David Charlier advises a range of sponsors, lenders and government institutions across the Middle East, and has considerable experience acting on landmark projects, while Natasha Kavanagh is a strong projects lawyer who is experienced acting for both the borrower and lender on a variety of transactions.

Well versed in both conventional and Islamic financing, DLA Piper leverages its considerable international reach to advise on cross-border financing deals in the Middle Eastern region and beyond. The team demonstrates expertise in high-profile restructuring and insolvency mandates, and continues to undertake impressive work in the project financing and debt financing space. Department head Paul McViety is a key figure for multinational corporations, financial services providers and government bodies that seek his assistance on a plethora of financing options. He is also familiar with an array of Islamic financing structures. Widely viewed as one of the top debt specialists in the market, co-head James Iremonger has been recently active on real estate, hospitality and healthcare affairs. Legal director Richard Dassin and senior associate Jonathan Downey are also recommended.

 

Fielding a dedicated UAE team that works with a host of financial institutions, Latham & Watkins LLP demonstrates wide-ranging capabilities pertaining to the financing of brownfield and greenfield developments, fund acquisitions, and a variety of restructurings. Islamic financing continues to be a cornerstone of the practice; the team regularly advises on first-of-its-kind deals across the region, including corporate restructurings and digital infrastructure matters. Practice head Christian Adams is noted for his proficiency in cross-border transactions, especially in the real estate, hospitality and infrastructure sectors. Chirag Sanghrajka  has a strong track record of working with both public and private sector clients on a broad array of financing mandates, with notable experience counselling on project bonds and Islamic financing.

Prolific across project financing, structured financing and restructuring and insolvency, Pinsent Masons LLP handles a host of premium deals across a range of sectors and industries, leveraging expertise in both conventional and Islamic transaction structures. The team is steered by Matthew Escritt, a highly experienced debt and project finance lawyer who has handled PPP-procured social infrastructure developments over the past twelve months alongside significant hospitality and real estate transactions. Since research concluded, Matthew Dyson left the firm.

Eversheds Sutherland LLP acts for a range of significant borrowers and lenders across the Middle East, with many of the UAE’s leading financial service providers using the firm as a go-to for financing counsel. Adept across the full range of conventional and Islamic financing work, the group provides cross-border advice on significant energy and renewable builds across the MENA region, especially solar and water, as well as complex trade financing mandates. Group head Clint Dempsey handles a number of consequential matters, working with a host of banks and financial institutions on renewables, hotel, and residential developments. Ashley Halewood advises on high-profile mandates across the energy and infrastructure sectors, including advising governmental bodies on first-of-its-kind PPP procurement projects. Senior associate Gaurav Jain has considerable expertise across trade finance, real estate finance and project finance.

Boasting a strong track record of advising federal and local government authorities, Hadef & Partners LLC advises on a variety of financing structures, particularly for clients handling emerging technological tools and digital assets. Large project finance deals continue to be a key feature of the practice, alongside acquisition financing, Islamic financing, and complex cross-border transactions. The group is headed by Catriona McDevitt, an experienced multi-jurisdictional specialist who advises lenders, borrowers and government-owned entities across the full range of finance deals. Alan Rodgers regularly handles debt capital markets, PPP and restructuring mandates. Senior associate Ajai Ramakrishnan is also recommended.

HFW brings its experience to bear on a number of key mandates including Islamic finance, trade finance and private equity. Infrastructure, shipping and aviation-centrered work is a key component of the practice’s offering, with the team able to cover the financing, development and regulatory piece on large-scale projects. Cross-border instructions are also commonplace for the group, which regularly works with regional and international banks on their lending operations. Shyamal Jeewoolall sits at the head of the group and is particularly revered for his aviation expertise, whereas Tien Tai is a go-to for project financing. Vince Gordon also comes highly recommended. Ian Chung joined the team from Clyde & Co LLP in September 2022, bringing further capabilities in acquisition financing and debt and leasing work to the firm.

A clear specialist for handling complex Islamic financing deals, Hogan Lovells (United Arab Emirates) LLP boasts a strong track record overseeing first-of-its-kind transactions involving a variety of enviable domestic and international clients across a strong set of sectors. Consistently acting on prestigious infrastructure and energy builds, the firm are a favourite for clients looking for project financing capabilities, while further matter highlights include advising premium banks on a number of high-value facilities. Rahail Ali heads the practice and has a prominent reputation for Shariah-compliant financings and is routinely in demand from government bodies, independents, and financial institutions. Senior associate Ahmet Kalafat is building a considerable body of work regarding Islamic facilities and is key to the group due to his knowledge of foreign markets.

Routinely called upon to advise on large-scale international real estate projects, King & Spalding LLP‘s expertise covers both conventional and Islamic structures, boasting an impressive track record in unique transactions. Beyond this, the group has a strong restructuring offering – often receiving instructions from industry heavyweights – and are adept at acting for asset managers to establish credit funds. Team head Michael Rainey has a broad international practice, regularly advising borrowers and lenders on complex cross-border transactions in the Middle East. James Stull is noted for his extensive work alongside funds engaging in Shariah-compliant financings, while Nabil Issa‘s far-reaching expertise is largely concentrated in investment structures for real estate and private equity investments. Issa often works in tandem with Asal Saghari, noted for their far-reaching capabilities.

Noted for its aviation finance acumen, the team at Morgan, Lewis & Bockius LLP utilises ‘profound knowledge of the law combined with sound understanding of the commercial intentions’ to advise an impressive range clients on a broad spectrum of financing transactions, including project financing for large scale-energy developments and real estate builds, refinancing existing lease structures, and debt financing for acquisitions. The team also regularly advises leading regional banks on the creation of new Shariah-compliant master structures for future investments. Aviation specialist Sidanth Rajagopal and energy and infrastructure expert Alexey Chertov joined the practice in 2022 from K&L Gates and the firm’s Moscow office respectively, joining Ayman A Khaleq as joint heads of the group. Khaleq is noted for his abilities structuring bespoke investment platforms and handling cross-border transactions. Yaroslav Smorodin has been an active supporting presence on a range of mandates. Since publication, Amanjit K. Fagura left the firm.

Simmons & Simmons Middle East LLP advises a diverse global client base on both conventional and Islamic financing structures. The team is frequently called upon as lenders counsel for a roster of marquee domestic, regional and international banks, as well as advising financial institutions as to English law and regional law as they look to update a variety of issuance programmes. Team head Muneer Khan has a broad practice that sees him split his time between financial services regulation, compliance and sanctions work, and Islamic financing. Aditi Sanyal not only has great expertise, but also ‘strong client skills’ and the ability ‘to find a solution and provide pragmatic legal advice.’ Lee Irvine is particularly well-reputed for his cross-border proficiency, often advising on international debt offerings that include Sukuk transactions. Kate Chapman comes recommended for her expertise in Murabaha and Ijara financing structures, and Jennifer Hanna works with both lenders and borrowers on a broad range of instructions that includes acqusition financing, Islamic financing, and restructurings.

Active on the borrower and lender side of a wide array of transactions including project finance, acquisition finance and refinancing and restructuring Stephenson Harwood Middle East LLP demonstrates notable sector experience in real estate, energy, shipping and aviation. The team are regularly called upon by major regional banks to advise on complex, cross border transactions in areas such as the Caribbean, central and southern America, Asia and Europe, and demonstrate a strong competence across Islamic financing, boasting a portfolio of novel transactions in this space. Rustum Shah joined the practice from Hogan Lovells (United Arab Emirates) LLP in February 2022, seamlessly taking the mantle of team head and leading a wealth of mandates that involve high-value restructurings and acquisition financings. Philip Clarke handles financial services regulatory issues. Associates Chinar Zaidi and Murtaza Hussain are active across the full range of client instructions.

Noted for the breadth of their capabilities, Watson Farley & Williams is a strong choice for both conventional and Islamic financing matters. Despite a wide sector focus, the group show notable expertise on maritime and aviation-related matters, as well as a demonstrating a broad competence across a wide array of energy assets. Michael Savva leads the team and ‘gives practical advice’ on cross-border deals that includes structured finance, equity finance, leasing and project finance transactions. Senior associate Charlotte Knight and associate Stuart Bolton both come recommended for their far-reaching, technical knowledge, and understanding of the market.

Widely praised for their ‘remarkable experience’, ‘dedication to excellence‘ and ‘client-centered approach’, Bird & Bird acts on complex financing deals that are often first-of-their-kind for the respective jurisdiction and client, including a wide range of Islamic financings. Financial regulatory expertise is fully integrated into the team, allowing the experienced practitioners to advise across all aspects of multi-layered transactions, routinely cross-border. Gregory Man has ‘profound knowledge of the field’ and provides ‘meticulous attention to detail’, active across project finance, asset finance, securitisation and structured projects – amongst others. Jessica White, who joined from A&O Shearman in October 2022, has been highly active on a range of matters, often working closely with a number of top domestic banks and financial services providers.

Gibson Dunn covers an array of financing transactions, drawing on the firm’s relationships with leading energy players to act on substantial project financings, sustainability linked facilities, and acquisition financings for both assets and companies. Laleh Shahabi - who joined from Shearman & Sterling LLP in February 2023 - now helms the practice, working closely with corporate sponsors, governments, and government-related entities in both the UAE and wider GCC region on the full gamut of financing matters.

Ibrahim & Partners has strengthened its practice over the past twelve months with an array of hires across a range of experience levels, including three partners. The group regularly receive instructions from both lenders and borrowers and have a considerable cross-border focus, especially regarding other Middle Eastern states. Added to this, strong regulatory knowledge underpins the practice, allowing the team to advise on multiple aspects of complex transactions. Managing partner and team head Ahmed Ibrahim is the leading figure on the majority of practice mandates, exhibiting broad competency across the full range of financing issues. May El Ghamry excels in project finance and syndicated loan transactions.

Reed Smith is praised as ‘dynamic and commercial, providing practical solutions in timely manner’. The team acts on an array of financing transactions, drawing on cross-border capability and Islamic financing knowledge to assist domestic and international banks on complex deals. Amir Ahmad, who heads up the practice, is well-regarded for his debt financing expertise, acting on the firm’s most complex Shariah-compliant financing work. Nick Stainthorpe works with private equity firms, hedge funds, and institutional banks on the full range of financing mandates, demonstrating particular expertise in structured finance. Counsel Umbreen Meenai has been highly active over the past twelve months, advising on asset finance, project finance and trade finance. Associate Oliver Spence also comes recommended.