Real estate developer Sweid & Sweid has awarded Dubai-based Dutco Construction a AED 730 million ($199 million) contract to build a premium office tower in Jumeirah Lakes Towers (JLT), marking their second major collaboration.
The development, called Sweid One, will add 500,000 square feet of Grade-A office space to the JLT district when completed in the fourth quarter of 2026, the company said on Thursday.
Construction has already begun on the development, which will include four underground parking levels spanning the entire building footprint and a dedicated visitor parking structure. The tower will also feature a selection of unique food and beverage outlets and operate a shuttle bus service to the metro station.
“Sweid One is a pivotal project for us, designed to raise the bar for commercial office space within JLT,” Managing Partner Maher Sweid said in a statement.
The contract marks a renewed partnership between the firms, which previously collaborated on the Visa Headquarters project in Dubai Internet City. Dutco Construction’s portfolio includes prominent projects such as The Dubai Mall, Box Park and Marina Heights Tower.
“We are proud to work again with Sweid & Sweid on Sweid One,” said Nelson Gibb, Group CEO of Dutco Group. “Our team is ready to bring this remarkable project to life, leveraging our expertise to deliver it efficiently and to the highest standards.”
The development will feature dual entry points from both sides of JLT to enhance accessibility, the company said.
Sweid & Sweid has built a portfolio of multinational corporation tenants including Visa, Oracle, Redbull, Snapchat, SAP, Tesco, FUJITSU, GlaxoSmithKline, SABIC, Bristol-Myers Squibb, McGraw Hill, and Johnson Controls.
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