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Construction and energy specialist Fenwick Elliot will launch an office in Dubai early next year, after announcing dramatic increases in profit and revenue.
The firm will open the associate office in conjunction with Ibrahim Law Firm, a new UAE disputes and arbitration practice founded by partners Heba Osman, formerly of Freshfields’ Dubai office, and Ahmed Ibrhaim.
The firm said last year that it was considering launching in Doha but managing partner Simon Tolson said cited South Korean and Australian clients as a major factor behind the firm’s decision to open in Dubai instead.
He added that Fenwick Elliot had originally planned to open a Dubai ofice in 2009 but that following the credit crunch it had put its plans on hold.
He said: “We are doing quite a lot of work in Doha but we have come to the conclusion that the best business hub for all of our international work would be Dubai.”
Fenwick Elliot’s revenue rose by 24 per cent in 2012/13 from £9.6m to £11.9m, following a 4 per cent drop in 2011/12 from £10m. According to Tolson, the firm has had its second-most profitable year in nearly three decades, with its highest-ever profit percentage standing at 46 per cent.