US$1.9 billion Dubai deal continues string of Islamic Finance successes

This level of committed capital makes ABRE one of the largest capitalised real estate investment vehicles in the world. The company, which plans to invest in the region's thriving real estate sector, has already acquired a significant share in Phase I of Madinat Al Arab, a massive urban development at the heart of the Dubai Waterfront.

"It was a genuine pleasure to advise Dubai Islamic Bank on this prestigious assignment. This transaction tops a fantastic year for our Islamic Finance practice, which continues to go from strength to strength,"

says Dubai-based partner Rahail Ali.

In the past 12 months Denton Wilde Sapte has advised on Islamic Finance transactions with an aggregate value of more than US$5 billion.

Major deals have included the US$1 billion Government of Dubai, Department of Civil Aviation sukuk (sharia compliant bond) issue, a US$550 million sukuk for Emirates Airlines and the US$200 million Dubai Metals & Commodities Centre Authority sukuk.

"Our first-rate track record is testament to the success of our clients - which is reflected in the high profile mandates they have been awarded, often in the face of strong competition from non-Islamic financial institutions." says Rahail Ali.

The Denton Wilde Sapte team on the ABRE transaction was led Rahail Ali and Corporate partner Tom Deegan. They were assisted by Imran Mufti, Rustum Shah and Amanda Chen.