Winston & Strawn advises Abu Dhabi Islamic Bank on AED310 million loan for Abu Dhabi shopping mall

DUBAI (May 31st, 2017): Winston & Strawn’s Dubai Islamic finance team represented Abu Dubai Islamic Bank (ADIB) as Mandated Lead Arranger in a AED310 million ($84m) syndicated development financing for Tamouh Investments.

The transaction will fund the final phase of the construction of Tamouh’s Paragon Bay Mall in Marina Square, Reem Island, Abu Dhabi.

Winston & Strawn partner, and head of banking and Islamic finance, Shibeer Ahmed and associate Shaheer Momeni acted as ADIB’s lead counsel on the transaction.

The ten-year project financing provided by ADIB, which was the mandated lead arranger and sole bookrunner for the transaction, will see Paragon Bay Mall become a hub of leisure, entertainment and retail, and will be the first lifestyle community shopping centre on Reem Island to offer waterfront dining.