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Cerha Hempel and SOG Appointed Legal Advisors for Emirate of Dubai Economic Development Program

Cerha Hempel and SOG Appointed Legal Advisors for Emirate of Dubai Economic Development Program

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Cerha Hempel Hungary and the SOG Law Firm have been appointed as members of an international legal consortium to screen potential companies and advise on investments by the Emirate of Dubai’s “Operation 300 Billion” program. The consortium also reportedly includes the Boros Arpad Andras law firm in Budapest.

"The ten-year comprehensive strategy of the United Arab Emirates launched in March 2021 aims to empower and expand the industrial sector to become the driving force of a sustainable national economy, increasing its contribution to national GDP from AED 133 billion at present to AED 300 billion by 2031," Cerha Hempel informed.

According to SOG, Sheikh Rashid Bin Ahmed Al Maktoum, a member of Dubai’s ruling family, announced that he would offer cooperation opportunities for companies in Central and South Eastern Europe to participate in the national development program called "Operation 300 billion."

"As the owner of RAM Investment – DXB Holding, Sheikh Rashid Bin Ahmed Al Maktoum hired an international legal consortium of three leading law firms to screen and advise potential companies," SOG added. "In addition to SOG, two Hungarian law firms are part of the consortium. The law office of Boros Arpad Andras – which specializes in the energy, financial, and investment sectors of the Central and Eastern Europe region – leads the Consortium, and Cerha Hempel, whose executive partner is Polauf Tamas – known for its consulting solutions and decades of experience in international commercial transactions and corporate matters."

The Cerha Hempel team is led by Managing Partner Tamas Polauf.

The SOG team is led by Partner Milan Samardzic.