Clifford Chance’s Middle East offices led the firm’s growth in its latest financial results, where revenue surged by over a third.
In the financial year to April 30, the firm recorded 36% revenue growth in the region, where it has four offices as well as a joint venture in Saudi Arabia that operates as a separate entity.
In the past year, the firm has been involved in significant transactions in the region. Clifford Chance is advising The Walt Disney Company on its strategic partnership with Miral for the development and operation of a new Disney theme park resort on Yas Island in Abu Dhabi, its first in the Middle East. The firm is also playing a key role in Wynn Resorts’ $5.1 billion project to develop the UAE’s first licensed casino on Ras Al Khaimah’s Al Marjan Island. The firm is acting for the sponsors, advising on the $2.4 billion construction facility with a global syndicate of lenders to complete the financing for the project.
Elsewhere, the firm played a key role in the initial public offerings (IPOs) of Dubai Residential REIT in Dubai, LuLu Retail in Abu Dhabi, as well as Derayah Financial Company and Nice One Beauty Digital Marketing Company in Saudi Arabia.
In May 2024, the firm promoted Jeremy Barker and Ahmed Choudhry to its Middle East partnership in Dubai and Riyadh respectively, and Sohini Kar-Purkayastha, who is based in Dubai, the following year. They are part of the firm’s global financial markets group.
In September 2024, the firm strengthened its regional bench with the hire of corporate partner Lynn Ammar from Cleary Gottlieb.
Around the same time, antitrust counsel Sabra Ferhat relocated from London to the firm’s Dubai office to build its regional antitrust practice, becoming its first antitrust lawyer in the UAE.
Overall, the firm increased global revenue by 9% to £2.4 billion and partner profit by 11% to £944 million.
The US region saw a sharp rise in revenue of 18%. Europe—including the UK, where the firm is headquartered—and Asia Pacific delivered revenue growth of 6% and 5% respectively.
Commenting on the results, Clifford Chance’s global managing partner, Charles Adam, said: “All our regions recorded robust growth, most notably the Middle East. Despite more challenging market conditions in the US during the second half of the financial year, we maintained our strong growth trajectory taking our revenue increase in the region to more than 50% in the past two years.”
A number of firms have disclosed their financial results in recent months, including Clyde & Co, the Middle East’s largest international law firm, where revenue grew by 11% in the region.
