| 07 Sep 2010 |
|
Simmons & Simmons advises on major US$1.6bn retail and leisure development project in Qatar
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Simmons & SimmonsSimmons & Simmons
has advised Bawabat Al Shamal and its existing shareholders, including Qatar Islamic BankQatar Islamic Bank and Aqar Real Estate InvestmentAqar Real Estate Investment, on a joint venture with Al FuttaimAl Futtaim to construct a US$1.6bn state-of-the-art entertainment and retail complex in Doha.The complex will be the largest multipurpose development in Doha and is the single largest private real estate development announced in Qatar so far this year.
Simmons & SimmonsSimmons & Simmons
advised Bawabat Al Shamal on all of the corporate and real estate aspects of the transaction including the share purchase and shareholders agreements, as well as providing advice regarding the site where the complex will be developed and the investment management and development management agreements.The Simmons & SimmonsSimmons & Simmons
team was led by Samer Eido, assisted by Jason Majid and Ian Arnott.Commenting on the transaction, Samer Eido said: "This is a clear sign that the real estate market is recovering in Doha. This new development will be a real boost to the city and complement all the other exciting projects that are already underway."
Simmons & SimmonsSimmons & Simmons is a leading international law firm with fully integrated teams working through offices in Europe, the Middle East and Asia. The firm has a focus on four industry sectors: Energy & Infrastructure, Financial Institutions, Life Sciences and Telecoms, Media & Technology (TMT). The firm's strategy is designed to ensure we provide our clients with high quality advice and deliver value through new ways of working.
Visit our website at simmons-simmons.com or our award-winning online legal service at elexica.com.
Opened in 2003, our Doha office was recently awarded Qatar Law Firm of the Year by IFLR. The office provides a full range of services including both international and local legal opinions. The team are able to advise on finance, corporate, projects, ICT, real estate and dispute resolution matters in both Arabic and English.
For further information, please contact Sarah Green, Senior Business Development Manager on +971 2 6519 252 or at sarah.green@simmons-simmons.com
© Press Release 2010
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