Shearman & Sterling is gearing up for more power projects in the Middle East by bringing in key London based real-estate partner Ian Nisse to Abu Dhabi.
Shearman expects Nisse’s relocation to give the firm leverage in the real estate and projects spheres across the firm’s presence in the Middle East, Europe and the US. He will develop both the firm’s real estate and funds businesses both regionally and for outbound transactions. In relocating, Nisse gains a new title as Abu Dhabi deputy managing partner, and will keep his current responsibilities as joint head of both the global property practice and the firm’s Middle East and North Africa initiative.
Since announcing its plans in 2008 to double the number of lawyers in Abu Dhabi and develop its project development & finance practice, the firm has succeeded in winning a number of infrastructure project tenders in the region (see boxout). Nisse, who advised on the landmark Blue City project in Oman in 2006, had been working across London and Abu Dhabi, but will now work full-time in the Abu Dhabi office.
Abu Dhabi managing partner Philip Dundas said that the firm is also considering the Saudi market as a new base. “[We have] no present plans for further offices in the region, though we are constantly evaluating this issue. We are definitely looking at the Saudi market and already have a number of transactions there,” he said.
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Recent Middle East projects: Shearman & Sterling
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- US$1bn Salalah IWPP – advising China Development Bank and Bank of China
- US$2.1 billion Al Dur IWPP in Bahrain – advising lenders
- US4485m Ras Abu Fontas A1 project financing –advising Qatar Electricity & Water Company
- US$3.2bn Shuweihat 2 IWPP – advising lenders
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