GWC’s EGM Approves the Establishment of a QAR 2 billion Sukuk Program
•Sheikh Mohammed Bin Hamad: Diversifying funding sources and boosting business agility
•Sheikh Abdulla Bin Fahad: Expansion strategy is underpinned by strategic partnerships
Gulf Warehousing Company Q.P.S.C (GWC) – one of the fastest-growing logistics businesses in the MENA region – announced that its Extraordinary Assembly General Meeting, held on Tuesday, 10 December 2024, approved the establishment of a Sharia-compliant Sukuk program, with a total value of QAR 2 billion (or its equivalent in other currencies).
H.E. Sheikh Mohammed Bin Hamad Bin Jassim Bin Jaber Al Thani, GWC Chairman, commented: “Our strategy focuses on diversifying funding sources while maintaining strong operational performance. We are committed to reinforcing our leadership in logistics and supply chain solutions, improving business agility and mitigating potential risks. We are also prioritizing sustainability efforts while supporting SMEs, which play a key role in the economy.”
His Excellency further explained: “GWC’s Comprehensive expansion strategy is designed to deliver long-term value to our clients and investors. In 2023, the company launched its wholly owned subsidiary, GWC Energy Services, which offers specialized logistics solutions for the energy sector. This supports Qatar’s national strategy to increase LNG production capacity through the North Field Expansion Project, the largest gas project under construction in the world. By 2030, this project will increase Qatar’s LNG production capacity by 85%, from its current 77 million metric tons per year (MTPA) to 110 MTPA. Furthermore, in early 2024, GWC launched its FLAG subsidiary (100% owned company) logistics Hub at Khazaen Economic City in Oman, marking a significant step in expanding its presence across the GCC markets.”
For his part, Sheikh Abdulla Bin Fahad Bin Jassim Bin Jaber Al Thani, GWC Group Managing Director, said: “The company’s expansion strategy is underpinned by forging strategic partnerships. Notably, the signing of Head of Terms with GFH Financial Group to develop 200,000 square meters of Grade ‘A’ logistics facilities across key locations in Saudi Arabia, including Riyadh, Jeddah, and Dammam. Additionally, GWC signed a Memorandum of Understanding (MoU) for a strategic partnership to develop 100,000 square meters of Grade ‘A’ logistics facilities at Ras Al-Khair Industrial Port in KSA.
His Excellency highlighted: “We are committed to sustainability, innovation, and enhancing our competitive edge to sustain our leadership in the logistics sector. At the same time, we actively contribute to Qatar’s Third National Development Strategy and the Qatar National Vision 2030.”
His Excellency emphasized that: “GWC Fine Art has enhanced its capabilities, providing institutional and private collectors, museums and galleries with the highest international standards of fine art logistics. As a carrier, packer, customs broker, and airfreight agent, GWC Fine Art offers the best guarantee of care, discretion, security and efficiency for any move or installation request for a wide variety of fine art logistics requirements. Hence, GWC has become one of the rare in the region equipped to take on the highly specialized activity of transporting works of art.”
He added: “Empowering micro, small, and medium-sized enterprises (MSMEs), improving their efficiency, and boosting their competitiveness in the market are top priorities for GWC. The first two phases of Al Wukair Logistics Park have already attracted a significant number of MSMEs, solidifying Qatar’s position as a promising and attractive destination for such businesses. Spreads across 1.5 million square meters, GWC Al Wukair Logistics Park is dedicated to light industry infrastructure required for the operational success of MSMEs. With various light industrial units, warehouses, and open yards, the park has been designed to meet all types of warehousing and distribution requirements for small and medium enterprises.
