Allen & Overy (A&O) advised Emirates Islamic Bank and Emirates Bank International on a US$1.2 billion dual currency Mudarabah facility for Limitless, a landmark transaction signifying confidence in the region’s real estate sector, said A&O senior associate, Shehzaad Sacranie.
She said the syndicate proves there is a continued appetite for investment in the real estate sector and a growing interest in Shariah compliant financings.
The proceeds of this transaction will be used to fund landmark real estate projects being developed by Limitless in Russia, Saudi Arabia, India, Jordan, Vietnam and Malaysia and in the UAE.