Peter Greatrex

Full Profile

Peter has extensive experience advising master developer clients on all aspects of their development from conception to completion. Peter has advised the master developers of Diyar Al Muharraq, Durrat Al Bahrain, Durrat Marina, Riffa Views, Dilmunia Bahrain and Amwaj Islands. Peter has also advised on the development of Bahrain Bay in Bahrain, Victory Heights, Business Bay, Dubai Waterfront and Dubai Healthcare City in the UAE and Muscat Hills and Al Mouj in Oman.

Peter is an expert on the delivery of affordable housing, advising Abu Dhabi Housing Authority on a comprehensive review of its framework for the delivery of housing in Abu Dhabi and the Government of Oman on a new strategic approach for the delivery of housing in Oman.

Peter has particular expertise in large pathfinder public private partnerships, advising the Dubai Road Transport Authority on the redevelopment of the Union Oasis Metro Station, the Dubai Taxi Corporation on the redevelopment of three sites in Dubai, the Bahrain Ministry of Transportation on the appointment of a new operator of the bus network, Eskan Bank on a suite of documents to assist in the delivery of affordable housing in Bahrain, the developer of the first PPP project for the procurement of social housing to be carried out in the Middle East, the Government of Oman on a new conceptual approach to the delivery of affordable housing in Oman, the Government of Kuwait separately on the delivery of the largest housing PPP in the Middle East and the Government of Kuwait on the development of the Kuwait National Rail Road System to tie into the GCC Rail Network.

Peter has advised Bahrain Airport Company on a range of issues related to the operation and redevelopment of the Bahrain International Airport since that company's inception. He also advised Oman Airport Management Company on the non-aeronautical contracts for the new Muscat International Airport.

Peter led the team providing real estate advice on the first Sukuk Al Ijara in Oman and the debut Sukuk issuance by the Omani Ministry of Endowments and Religious Affairs. Peter has led the real estate advice on conventional and Islamic finance transactions in Bahrain, Oman, the UAE and the United States of America.

Experience

• Leading the advice, in consortium with Deloitte, the Dubai Taxi Corporation (in conjunction with the Road and Transport Authority of Dubai) on the proposed redevelopment of three sites allocated to the Dubai Taxi Corporation through a mixture of PPP and other structuring options.
• Advising a leading Omani developer on the acquisition of two plots in the Al Mouj mixed use development to be developed into an office complex and adjacent Hotel.
• Acting for the master developer of the US$ 3.2 billion Diyar Al Muharraq development. This project is a joint venture sponsored by Kuwait Finance House (Bahrain) B.S.C.(c). comprising 24,000,000 m² of reclaimed land in the north of Muharraq. This mixed-use development will include 30,000 houses and apartments, providing new housing for over 100,000 people. The development will also include four hotels and 40 km of new beach and waterfront.
• Advising Muscat Hills on the complex structuring of their management documentation for their Boulevard development.
• Acting for the master developer of the US$ 6 billion Durrat Al Bahrain development. This project is set across 15 inter-connected reclaimed islands in the south of Bahrain. This 21 km² master development host over 2000 villas, 3600 apartments and offices, hotels and spa resorts, a 400-berth marina, and an Ernie Els designed 18-hole championship golf course.
• Leading the advice to Ithmaar Development Company and Ithmaar Bank on its development of the US$ 1.6 billion Dilmunia at Bahrain health and wellness resort.
• Advising the Economic Cities Authority in Saudi Arabia on a development agreement for the King Abdullah Economic City in Rabigh.
• Leading the advice to the concessionaire on the first PPP project for the procurement of social housing to be carried out in Bahrain.
• Advising the Government of Oman on the development of a new housing regime. The advice initially required the development of a new conceptual approach to the delivery of affordable housing in Oman, initially at a site in Barka, Al Bāţinah. Subsequently, the work included a review of Oman's current system, a comparison against global practices and production of a White Paper on a recommended way forward and the preparation of a new draft Housing Law and Housing Policy to guide thinking over the coming years.
• Advising Abu Dhabi Housing Authority on a comprehensive systemic review of its framework for the delivery of housing assistance in Abu Dhabi. We provided specialist legal advice on the housing sector, including: carrying out a complete review of all laws and regulations in the area; evaluating the needs of the market; interviewing and liaising with key stakeholders; carrying out a survey of best practice from seven different jurisdictions around the globe which have taken differing approaches to the delivery of housing assistance; and providing recommendations on the system that Abu Dhabi should adopt going forward. We are now instructed on Phase 2 of the review, including advising on the implementation of some changes that we recommended during Phase 1. We have ADHA in negotiating service level agreements with First Gulf Bank (FGB) for housing finance assistance.
• Leading the advice to the Public Authority for Housing Welfare of the State of Kuwait in a consortium with EY (Kuwait) and Mott MacDonald (Qatar) on the delivery of a Low-Cost Housing Project in Kuwait. The project will be located in an area in the Al-Jahra Governorate of Kuwait.
• Advising Oman Airport Management Company on the non-aeronautical contracts for the new Muscat International Airport.
• Leading the advice to Bahrain Airport Company on a diverse range of matters, including the structural overhaul, commercial re-alignment and expansion at Bahrain International Airport.
• Leading the advice to the Bahrain Ministry of Transportation and Telecommunications (as part of a consortium with KPMG and Hyder Consulting) on the appointment of a new bus operator for the country.
• Advising the Roads and Transport Authority of Dubai in relation to its Union Oasis project, the first PPP project in Dubai following the introduction of the PPP Law in 2015, developing a first of its kind amalgamated concession and musataha structure for the project which we understand will be used as a template for future projects by the RTA. A transport-oriented development, this project will rejuvenate one of the most historical segments of Dubai and encourage and improve ridership of the Metro. We are advising, in consortium with Ernst & Young and Faithfull & Gould, the Roads and Transport Authority of Dubai on the proposed grant of a PPP-type concession for the development and operation of a transit-oriented project at the Union Square metro station. The key aim of the project is to increase ridership of the Dubai metro system. The proposed development envisages residential units, a hotel, a convention centre and commercial and retail units.
• Leading the advice on the appointment by the Kuwait Authority for Public Partnerships of the State of Kuwait in a consortium with EY (Kuwait) and Arup to advise on the development of the Kuwait National Rail Road System to create a freight and passenger rail network to serve Kuwait and tie into the wider GCC Rail Network through multiple PPP arrangements.
• Leading the advice to a bidder on the operation and management concession for the King Abdulaziz International Airport in Jeddah, Saudi Arabia.
• Advising Hyatt International South West Asia on the regulatory requirements associated with the opening of the Grand Hyatt Abu Dhabi Hotel and Residences.
• Leading the advice to CNBC, the global news broadcaster, on its entity in the ADGM, to be its base for its GCC and wider west Asia and Africa offering.
• Advising Abu Dhabi National Oil Company on a range of leasing issues in Abu Dhabi and Fujairah, including in respect of its precedent documentation at Ruwais.
• Leading the advice to Gulf Finance House on the revision of its precedent leasing documentation for the Al Faris Building in Dubai Healthcare City.
• Leading the advice to Al Enma'a House for Real Estate Company and the stakeholders in Enma Mall, East Riffa, Bahrain (including the ultimate parent and key longstanding client Kuwait Finance House Bahrain) in respect of the ramifications of the collapse of part of the gypsum ceiling tiles in the Atrium at the Mall. Also advising on the precedent leasing documentation and other issues encountered at this prominent development.
• Advising Tilal Development Company SAOC, an Omani based real estate development company and the obligor of an Omani Rial 50 million Sukuk al Ijara, which was the first Sukuk Al Ijarah in Oman.
• Advising an Omani property developer on a US$ 250 million Sukuk secured against its landmark shopping mall, serviced apartment and office development to be listed on the Nasdaq Dubai.
• Advising RUSD Capital on the Sukuk of the head office of Wyndham hotels in Florida, United States of America.
• Advising Al Salam Bank on its Sukuk of Phase 2 of the commercial and light industrial development known as Investment Gateway – Bahrain.