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Real Estate

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Global deal values up 31% from H2 2019 whereas total values for 2020 is down 6% from 2019Middle East deal volumes decreased by approximately 2% in comparison to H2 2019 whereas total volumes for 2020 decreased by 13% from 2019Deal values in the region were slightly up by 3% from H2 2019 whereas total values for 2020 were down by 51% from 2019US dominates inbound and outbound cross-border M&A as top acquirer and target country…

In brief A recent judgment by the Dubai Courts in favor of a major real estate company in Dubai had set a precedent on how the courts interpret sale and purchase agreements in relation to private islands registered for development. The defense strategy (which was proposed by Baker McKenzie Habib Al Mulla) carried out by the Dubai real estate company (acting as the Seller) and accepted by the courts involved: Registering the sale and purchase…

Global law firm Baker McKenzie has won three awards at the Middle East Legal Awards 2020 hosted by industry leading media group Legal Week on 5 November 2020. During these unprecedented times of market disruption brought by the COVID-19 pandemic and other geopolitical developments, the firm continues to cement its leading position in the legal industry, having won: “Arbitration Team of the Year” and “Real Estate Team of the Year” for the first time, and…

In brief Our Middle East Tax Newsletter aims to provide you with regular updates, insights and practical guidance on the tax implications of doing business in the region. In this issue, we provide a roundup of the current status of Value Added Tax (VAT) and the most recent tax related developments across the Gulf Cooperation Council (GCC), as well as their implications on the financial position of businesses. Oman VAT On 12 October 2020, it…

Leading international law firm Baker McKenzie Habib Al Mulla recently advised Abu Dhabi National Oil Company (ADNOC), on one of the region’s largest real-estate transactions as it signed a long-term agreement worth $5.5 billion (AED 20.2 billion) with Apollo Global Management (NYSE: APO), one of the world’s largest alternative investment managers. The agreement aims to lease some of ADNOC’s real-estate assets as part of its strategy to unlock capital from its non-core assets. The strategic…