Dubai - Dentons has advised on the sale of the landmark Movenpick Hotel at Dubai's Jumeirah Beach Residence to BM GCC Property Income Fund.
Commenting on the transaction Dentons' corporate partner Iain Black said: "We are delighted to have advised the owners on this important transaction which is one of the few luxury hotel sales in the UAE in recent years and reflects the growing momentum in the GCC hotel sector in the run up to Expo 2020 and Qatar 2022."
Dentons has extensive experience in the hotels and leisure sector across the Middle East, having advised on hotel projects such as Etihad Towers, Atlantis the Palm, Barr Al Jissah Resort & Spa and the W Hotel Palm Jumeirah. Globally the team most recently advised leading private equity group Avestus Capital Partners on the sale of the Four Seasons Hotel in Prague to Northwood Investors.
The Dentons team was led by partner Iain Black, assisted by partner Joby Beretta and associates Patrick Tweedale, Joe Carroll and Anna Terrizzi.
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About Dentons
Dentons is a global law firm driven to provide clients a competitive edge in an increasingly complex and interconnected world. A top 20 firm on the Acritas 2013 Global Elite Brand Index, Dentons is committed to challenging the status quo in delivering consistent and uncompromising quality in new and inventive ways. Dentons was formed by the combination of international law firm Salans LLP, Canadian law firm Fraser Milner Casgrain LLP (FMC) and international law firm SNR Denton.
Dentons' clients now benefit from approximately 2,600 lawyers and professionals in more than 75 locations spanning 50-plus countries across Africa, Asia Pacific, Canada, Central Asia, Europe, the Middle East, Russia and the CIS, the UK and the US. The firm serves the local, regional and global needs of a broad spectrum of clients, including private and public corporations; governments and government agencies; small businesses and start-ups; entrepreneurs; and individuals.
The Dubai office forms part of the extensive Dentons Middle East network, one of the largest and longest established of any international law firm in the region (on the ground since 1969). The firm's regional network includes more than 110 lawyers and professionals, many of them bilingual in Arabic and English and possessing a comprehensive understanding of local laws, customs and practices.
About Dentons Hotels & Leisure Practice
Our practice comprises a core team of internationally respected lawyers focused on the hotels and leisure sector. The Middle East team comprises individuals recognised in Who's Who Legal as having extensive industry experience; gained working in-house for operators such as Jumeriah International and owners such as IFA Hotels & Resorts.
This team enjoys complementary cross-disciplinary support from Dentons lawyers around the world, including the leading team of hotels and leisure lawyers in the US. For the seventh consecutive year, Chambers USA has ranked Dentons in Band 1 for its nationwide Leisure and Hospitality category. In addition, Law360 honoured the hotels team with a spot on its Practice Groups of the Year awards.
For further information, please contact:
Muireann Kelleher
+971 4 402 0870
muireann.kelleher@dentons.com
Johanna Hansson
+44 20 7320 6568
johanna.hansson@dentons.com
© Press Release 2014
