Macquarie Capital Middle East, the corporate advisory and capital markets arm of Macquarie Group, announced its support for the recently introduced public-private partnership (PPP) law, Law No. 22 of 2015 in Dubai, UAE.

The law facilitates Dubai government entities’ access to private funds to develop infrastructure projects in the emirate with the potential to apply the model to a number of asset classes. The move is seen as a positive step to encourage private sector financing and is expected to play a significant role in the future development of Dubai’s infrastructure.

Wissam Moukahal, executive chairman at Macquarie Capital Middle East, said: “This is an exciting development for Dubai and will play an important role in boosting investment in the local infrastructure sector.”

“Utilising PPP procurement models has globally been found to improve the quality and quantity of infrastructure delivery and as financial advisors with a keen interest in the sector we look forward to the pipeline of projects adopting the new law. The move by Dubai is certainly a positive shift in the momentum in terms of accessing private sector expertise and capital by regional governments.

“Macquarie has been operating in the Middle East since 2005 and offers comprehensive advisory solutions, commodities and financial markets services to clients from its offices in Abu Dhabi Global Market. It has advised on transactions locally worth more than $8 billion, which includes the implementation and execution of projects based on the PPP delivery model,” he added. – TradeArabia News Service