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HONG KONG - Reitar Logtech Holdings Limited (NASDAQ:RITR) has signed a Strategic Cooperation Memorandum of Understanding with AI logistics company NEXX to establish Qatar’s first Smart Fulfillment Center, according to a press release statement.
The 5,000-square-meter facility, located in Milaha Logistics City in Doha, is scheduled to begin full operations in the fourth quarter of 2025. Reitar will invest in the project’s automation system and equipment through its subsidiary, KAMUI Logistics Automation System Limited.
The project will be co-invested by Solomon Capital Fund, a USD-denominated fund under Solowin Holdings (NASDAQ:SWIN), to advance logistics digitization and automation across the Middle East. Solowin Holdings, with a market capitalization of approximately $127 million, has shown strong momentum with a 51% price increase over the past six months. According to InvestingPro analysis, the company currently appears overvalued, with several additional insights available to subscribers.
The facility will feature a VNA racking system with 6,744 storage locations reaching up to 16 meters high. Its robotic sorting system includes 50 3D-Sort robots processing 2,400 items hourly and 20 T-Sort robots handling 1,400 cartons hourly, for a combined capacity of 3,800 items per hour.
Additionally, the center will utilize 26 Autonomous Mobile Robots for picking operations and incorporate an Agentic AI management system that integrates warehouse management, execution, control, and robot control systems.
The facility will maintain pharmaceutical logistics certification and comply with bonded warehousing requirements.
John Chan, Chairman and CEO of Reitar Logtech, called the collaboration "a key step in Reitar’s global strategy," while NEXX CEO Oscar noted that the center "represents the future of logistics technology."
The companies plan a phased approach, starting with operational validation in Qatar (2025-2026), followed by expansion to the Middle East and Southeast Asia (2027-2028), and eventually into European and Latin American markets after 2029.
According to the press release, the Gulf Cooperation Council logistics market is projected to reach $171 billion by 2033, with a compound annual growth rate of 5.1%. While Solowin Holdings positions itself in this growing market, InvestingPro data reveals the company faces financial challenges with a weak overall health score and negative earnings. Investors seeking deeper insights into logistics sector opportunities can access comprehensive financial metrics and expert analysis through InvestingPro’s advanced screening tools.
In other recent news, Solowin Holdings has completed its $350 million acquisition of AlloyX Limited, a stablecoin infrastructure provider. This acquisition, which integrates AlloyX’s technology and team into Solowin’s ecosystem, includes a 12-month lock-up period for all selling shareholders, demonstrating confidence in the future of the combined entity. Additionally, Solowin is in advanced negotiations to acquire a U.S.-licensed financial institution through an affiliate. This proposed transaction is structured as a clean-charter acquisition, which will provide Solowin with a regulated banking platform. In further developments, Solowin has launched its Dubai Operations Center and is applying for a Category 3C asset management license from the Dubai International Financial Centre. The company has also signed a memorandum of understanding with CITIC Contracting Company to co-develop digital infrastructure in Saudi Arabia. This three-year agreement will initially focus on data science, commercial real estate, and logistics parks. These strategic moves underscore Solowin’s expansion efforts across different regions and sectors.
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