Dentons has advised Emirates NBD on the AED 515 million financing for the construction of the Emerald Palace Kempinski Hotel on the Palm Jumeirah, Dubai. The syndicated financing is a combination of conventional and Islamic facilities. The transaction represents another landmark development in the ever-growing hospitality sector in Dubai.

Qasim Aslam, Partner and Head of Islamic Finance in the Middle East, commented, "It is a privilege to have advised the funders on this transaction. The hospitality sector in Dubai sets a high standard and it is fantastic to see its continued ability to attract quality regional and international hotel brands. One should of course recognise the role that local banks have in the development of a sector which has been a tremendous success for Dubai."

The Dentons team was led by Qasim Aslam, with assistance from associates Joe Carroll all based in Dubai.

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