The project signals growing confidence in Dubai’s commercial real estate sector, which has seen strong leasing activity and rising rents in prime locations over the past year
Sweid & Sweid Announces AED 730 Million Contract with Dutco Construction for Premium JLT Office Tower
Renowned real estate developer Sweid & Sweid has awarded Dutco Construction, a Dubai-based construction giant, a contract worth AED 730 million ($199 million) to construct a state-of-the-art office tower in Jumeirah Lakes Towers (JLT). This marks the second significant collaboration between the two firms, building on their history of successful partnerships.
The new project, named Sweid One, will introduce 500,000 square feet of Grade-A office space to the bustling JLT area. The development is slated for completion in the fourth quarter of 2026, promising to redefine commercial office standards in the region.
Construction Underway
Work on the Sweid One project is already in progress. The development will include:
- Four underground parking levels spanning the entire building footprint.
- A dedicated visitor parking structure.
- A curated selection of food and beverage outlets.
- A convenient shuttle bus service connecting the tower to the metro station.
According to Maher Sweid, Managing Partner at Sweid & Sweid, “Sweid One is a pivotal project for us, designed to raise the bar for commercial office space within JLT. We are committed to delivering a space that meets the highest expectations of modern businesses.”
A Strong Partnership
The contract reaffirms the strong partnership between Sweid & Sweid and Dutco Construction, who previously collaborated on the Visa Headquarters project in Dubai Internet City. Dutco Construction’s portfolio includes landmark projects like The Dubai Mall, Box Park, and Marina Heights Tower, showcasing their expertise in delivering high-profile developments.
Nelson Gibb, Group CEO of Dutco Group, expressed his enthusiasm: “We are proud to work again with Sweid & Sweid on Sweid One. Our team is dedicated to bringing this remarkable project to life, delivering it efficiently and to the highest standards.”
Enhanced Accessibility and Tenant Appeal
Sweid One is designed with accessibility in mind, featuring dual entry points from both sides of JLT for seamless access. In addition, the tower aims to attract multinational corporations, adding to Sweid & Sweid’s impressive tenant portfolio, which already includes global names like Visa, Oracle, Red Bull, Snapchat, SAP, Tesco, FUJITSU, and more.
