International law firms respond to changing landscape in the Middle East
The article looked at how the market for law firms in the Middle East is diversifying in the context of shifting economic priorities in the region and how international law firms are leveraging on the opportunities.
Hogan Lovells was featured in the article regarding the firm’s growth in the region. Dubai managing partner, Rahail Ali, was quoted on his views on the broader landscape and recent market trends for law firms in the Middle East.
The article noted that apart from Hogan Lovells opening a Dubai office in 2007, the firm added a second Middle East office in Riyadh in June 2018 through an association with Saudi Arabia’s ZS&R Law Firm. Hogan Lovells is also prepared to embrace upcoming opportunities, according to Ali, who commented, “There are a number of initiatives and projects announced as a result of Vision 2030 and we are incredibly excited about those prospects.” He added, “That is a clear indication of how significant Saudi is and the deal opportunities there are for lawyers.”
Ali noted that Islamic finance and project finance have remained robust in the downturn because a number of Gulf Cooperation Council countries are very focused on developing their infrastructure. Speaking of the importance of Dubai as a regional hub for international law firms, Ali said, “Unless firms have significant Saudi operations and work with credible Saudi lawyers, they are going to struggle. In the UAE there are too many lawyers chasing not enough work.”
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