Dutco and Sweid & Sweid launch Terralogix logistics park
By
The project will serve as a pivotal node in Dubai's comprehensive supply chain infrastructure
Dutco and Sweid & Sweid have announced the launch of Terralogix, said to be the emirate's largest privately-owned logistics park. The development, located in Warsan, Northern Dubai, aims to serve as a crucial node in Dubai's supply chain infrastructure. The 3.3mn sqft Terralogix reinforces Dubai's aspirations to become one of the top five Grade-A logistics hubs.
Maher Sweid, Founder and Managing Partner of Sweid & Sweid commented, 'Terralogix will be developed by Dutco and Sweid & Sweid two UAE-based firms with strong heritage and established track records. The Dutco Group brings decades of expertise across many sectors including construction, hospitality, real estate, and oil and gas, while Sweid & Sweid is known for developing high quality, institutional-grade real estate assets. Together, we will be delivering Terralogix as a landmark project to spearhead the evolution of Dubai's industrial sector.'
Nelson Gibb, CEO of Dutco Group added, 'As the Dubai Economic Agenda D33 accelerates toward its target of doubling the city's economy by 2033, logistics and trade sit at the heart of that vision. The project brings meaningful new capacity to a sector under pressure from surging demand and limited supply. With direct connectivity to major highways and immediate access to airports and seaports, Terralogix is well positioned to support businesses operating across the UAE and the wider region.'
Terralogix stands out for its location and adaptability. As one of the few large scale logistics developments in Northern Dubai, it offers access to areas underserved by other logistics facilities primarily concentrated in Southern Dubai. The park's modular design and flexible leasing model empower tenants to scale, expand, or customise their facilities to precisely meet their needs. Phase One is currently underway and is expected to be completed in the third quarter of 2026, the statement concluded.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
18 minutes ago
- Zawya
Ajman Bank reports profit of $72mln in H1 2025
AJMAN: H.H. Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman and Chairman of the Board of Ajman Bank, chaired the Bank's Board of Directors meeting on Tuesday to review key financial and administrative matters, and issue resolutions on commercial activities. Ajman Bank announced a profit before tax of AED266 million for the first half of 2025, marking a 14 percent increase compared to the same period in 2024, driven by sustained focus on core business performance, increased financing activity, and improved operational efficiency. Ajman Bank delivered a Total Operating Income of AED751 million, while net operating income reached AED399 million. The Bank's total assets increased by 17 percent compared to year-end 2024 to AED26.6 billion, supported by a 16 percent growth in the financing portfolio to AED17.8 billion. Customer deposits reached AED20 billion, up 11 percent year-to-date, reflecting continued growth across Consumer and Wholesale business segments. The Bank's total shareholders' equity rose to AED3.2 billion, up 4 percent year-to-date. H.H. Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman and Chairman of Ajman Bank, said, 'Ajman Bank continues to deliver consistent results, underpinned by a resilient business model and a focused growth strategy. Our performance in the first half of 2025 reflects disciplined execution and the Bank's growing role in supporting economic development and financial sector sustainability in the UAE'. Ajman Bank's capital and liquidity metrics remained strong, with a Capital Adequacy Ratio (CAR) of 17.3 percent and a Tier 1 Capital Ratio held firm at 16.1 percent, notwithstanding 17 percent growth in total financing portfolio. Return on Equity (ROE) improved to 15.6 percent (up by 29 bps), while Return on Assets (ROA) increased to 1.9 percent (up by 9 bps). Ajman Bank's further strengthened strong liquidity position achieved an improved Eligible Liquid Assets Ratio (ELAR) at 18 percent and Loans-to-Stable Resources Ratio (LSRR) at 74 percent. Mustafa Al Khalfawi, Chief Executive Officer of Ajman Bank, said," Our first-half results demonstrate the strength of Ajman Bank's funding base, balance sheet, and operational model. We are focused on scaling platform productivity, improving cost-to-income performance, and diversifying access to capital. The successful launch of our co-branded POS solution, real-time settlement platform, and global Sukuk issuance all reflect growing confidence in our trajectory." On the back of proactive credit portfolio management, Asset quality continued to improve with the Non-Performing Loans (NPL) Ratio at 8.6 percent (down by 126 bps), 15 percent reduction in the aggregate of Gross Stage 2 & 3 exposure during H1 2025 and greater diversification achieved with the Real Estate Ratio reduced to 32.9 percent (down by 705 bps). The Bank continued to advance its digital infrastructure with targeted investment in SME onboarding platforms, merchant POS enablement, and real-time processing capabilities. These improvements are enhancing productivity, accelerating digital origination, and supporting end-to-end service automation across core segments. In May 2025, Ajman Bank successfully issued its debut USD 500 million 5-year Sukuk. The five-year issuance, listed on Nasdaq Dubai, achieved a 5.4X oversubscription, which also evidences the great trust of 100+ regional and international investors with participation of 65 percent and 35 percent allocation respectively. The Sukuk marks a strategic milestone in the Bank's funding diversification and access to international capital markets. Ajman Bank remains committed to its AED4 billion 'Sustainable Finance' pledge by 2030 and 'Net Zero Emission' by 2050, aligning its long-term strategy with Ajman Vision 2030 and the UAE's broader sustainable growth framework.
Zawya
18 minutes ago
- Zawya
Dubai Land Department, Emirates NBD partner to advance real estate ecosystem
DUBAI: Dubai Land Department (DLD) has signed a memorandum of cooperation with Emirates NBD, a leading banking group in the MENAT (Middle East, North Africa and Turkey) region, to establish a joint framework for conducting regulatory and technical studies. The partnership aims to develop streamlined mechanisms for real estate transaction registration and enhance the efficiency of the broader real estate ecosystem. It will focus on delivering innovative financial solutions that prioritise customer experience and support investors throughout their property journey. Under this partnership, both parties will collaborate on two forward-looking studies addressing procedural, and regulatory aspects. The first study will focus on optimising the registration process for real estate transactions concluded outside the UAE, while the second will focus on offering financial services that simplify the registration of real estate sales transactions. This strategic collaboration supports Dubai's efforts to attract international investors by enhancing trust, simplifying processes, and reinforcing confidence in the emirate's dynamic real estate sector. Omar Hamad BuShehab, Director-General of Dubai Land Department, said, 'We are continuously working to develop innovative solutions that place the customer at the centre of the real estate ecosystem and contribute to enhancing operational efficiency and market transparency. This partnership marks a significant step toward establishing a shared knowledge base that opens up new horizons for advancing real estate registration services, thereby further strengthening Dubai's position as a global destination for real estate investment. These efforts also align with the objectives of the Dubai Real Estate Strategy 2033, which aims to build a resilient, competitive, and innovation-driven sector that reflects the emirate's status as a global leader in real estate.' Hesham Abdulla Al Qassim, Vice Chairman and Managing Director, Emirates NBD, said, "This partnership with Dubai Land Department represents a significant milestone in our commitment to innovation and delivering customer-focused solutions. Integrated offerings under this collaboration will help enhance the property transaction experience while building greater confidence among market participants, including investors, ensuring Dubai maintains its leadership position in the global real estate sector." This collaboration reflects Dubai's comprehensive development vision under its D33 Economic Agenda, which aims to position the emirate among the world's top three economic cities. It also aligns with a broader direction to enhance the real estate market's readiness to attract high-quality investments by providing a supportive regulatory environment that promotes sustainable growth and elevates the investor experience both locally and internationally. The partnership serves as an effective model of integration between government entities and financial institutions, supporting Dubai's efforts to build a real estate ecosystem capable of adapting to future shifts in the business environment and driving further progress in digital transformation and service excellence.
Zawya
18 minutes ago
- Zawya
Bank of Sharjah posts net profit of $73mln in H1 2025
SHARJAH: Bank of Sharjah has announced its financial results for the period ended 30th June 2025. The Bank posted a net profit of AED268 million for the first half of 2025, compared to AED171 million for the same period last year, representing a 57 percent year-on-year increase. On a quarterly basis, net profit rose to AED152 million in Q2 2025, a 31 percent increase over the AED116 million posted in Q1 2025. The exceptional results for H1 2025 underscore the Bank's strategic focus on sustainable growth. All key performance indicators showed significant improvement, with strong contributions from both funded and non-funded income. This led to a 55 percent rise in net interest income and 51 percent increase in operating income. At the same time, the cost-to-income ratio improved to 31 percent, supported by the Bank's continued commitment to strict cost controls. These results reflect the Bank's core strength, operational efficiency, prudent risk management, and its ongoing efforts to enhance shareholder value. The balance sheet remains robust, with a loan-to-deposits ratio of 93 percent, and liquidity maintained at highly comfortable levels. These results also highlight the Bank's strong capital position, with capital adequacy ratio of 14 percent, and Tier1/CET1 capital ratios standing at around 13 percent. Commenting on the Bank's results, Sheikh Mohammed bin Saud Al Qasimi, Chairman of Bank of Sharjah, said, "Bank of Sharjah has maintained strong momentum in the first half of 2025, building on the solid results achieved in the first quarter. Our record net profit reflects enhanced business performance, operational efficiency, and financial resilience. These results are driven by steady balance sheet growth, a well-diversified business mix, improved operational capabilities, and a prudent approach to risk." Reaffirming the Board's confidence in the Bank's strategic direction, Sheikh Mohammed bin Saud Al Qasimi added, "We remain confident in our ability to deliver sustainable, long-term returns, while maintaining conservative risk management and corporate governance." Mohamed Khadiri, CEO of Bank of Sharjah, commented, "Our strategic transformation is well underway, and our first-half performance reflects the tangible progress we are making across all business lines. We have successfully expanded and diversified our balance sheet, strengthened customer relationships, and improved cross-selling capabilities, delivering solid results." Looking ahead, Khadiri further added, "Bank of Sharjah remains firmly focused on sustainable, profitable growth, through prudent capital deployment and sound risk governance. With a strong foundation and improving fundamentals, we are well positioned to deliver consistent returns for our shareholders while contributing to the ongoing growth and diversification of the UAE economy."
