United Arab Emirates > Legal market overview
The UAE has experienced both positive and negative effects from the sociopolitical instability across the Middle East and North Africa. Abu Dhabi, for example, has taken a conservative approach to large infrastructure and oil and gas projects that have been the drivers of many firms’ activities in the region, placing a number on hold with a view to reassessing their viability as the global economic climate changes. Dubai’s perceived stability (both politically and from an infrastructure standpoint) has rejuvenated its appeal as a business hub for the GCC region. Corporates, financial institutions and law firms are all reassessing their strategies in the wider region while strengthening their foothold in Dubai. There are opportunities across more beleaguered parts of the GCC, however, and law firms envision opportunities for work flowing from Egypt’s new government in a similar manner to the oil and gas projects that are developing in Iraq.
While there were no major new entrants into the market in 2011, some did add new offices to existing resources: Wragge & Co LLP opened a Dubai office in September following its Abu Dhabi launch in 2010, and Linklaters opened an office in Abu Dhabi. Eversheds LLP also made a significant step by merging with a consortium of Middle East law firms, including Dubai-based Khasawneh & Associates Legal Consultants; Freshfields Bruckhaus Deringer appointed Dubai-based Pervez Akhtar as managing partner for the MENA region after he joined from Allen & Overy LLP; Al Tamimi & Company enhanced its regional capability with significant recruitment in Dubai and Qatar; and Habib Al Mulla & Company enhanced its international credentials by hiring Rob Morris, formerly global head of procurement at Clifford Chance.