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Ocorian selected to administer on $90 million logistics and residential transaction in UAE

Ocorian selected to administer on $90 million logistics and residential transaction in UAE

We are delighted to announce that our UAE Corporate Administration team were selected to bring to a close a $90 million transaction for a recently established SPV structure (Makaseb Real Estate Investment SPV Limited) domiciled in the Abu Dhabi Global Market (ADGM).

The structure is the result of collaboration between award-winning Islamic financial services institution, Ajman Bank and Rasmala Investment Bank Limited, a leading alternative investment manager based in the Dubai International Financial Centre.

A team consisting of Kathryn Miller, Leevyn Isabel, Terry Antoinette and Azil Nazeem were able to leverage Ocorian's bespoke service offering to assist throughout the incorporation of the SPV and the structure's first transaction - the purchase of a portfolio of UAE logistic and residential assets with a value totalling USD 90 million.

With Ocorian Corporate Services (ME) Limited acting as Makaseb's administrator, the team dealt with the ADGM registry, onboarded shareholders, coordinated board meetings and liaised with legal counsel among other requisite actions. The transaction and administration proceedings were catalysed by the ADGM's dynamic financial services sector that develops and supports member institutions such as Ocorian with the regulatory framework, legal jurisdiction and attractive business environment they need for sustainable business growth.

Managing Director of our UAE office, Nina Auchoybur commented: "This is a great moment for our team, kick-starting our operations in the ADGM. Now that we have an established presence in ADGM, we hope that the Makaseb mandate will be the first of many."

You can find out more about our UAE service offering here, or alternatively, contact one of our team below.

External press coverage: Khaleej Times, Arabian Business, Zawya, Gulf Today

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