Aramex PJSC (ARMX.DU) has signed a partnership agreement with Al Ashram Investments, a Dubai-based investment firm to build and lease-back Aramex’s new express courier facility in Dubai. The new express courier facility will cost AED75mn and will be built in Umm Ramool area on Dubai Airport Road, where project completion is expected to occur within seven months. The facility will be Aramex’s first fully automated facility in the region, which will allow for higher capacity, faster sortation process and reduced transit times. Aramex’s General Manager, Hussein Wehbe added that the new automated facility will help Aramex meet growing consumer demand for rapid and efficient shipments in the UAE. The new facility will be constructed following a built-to-suit basis, as Aramex will be the sole occupant of the property. (Arabian Business) Aramex (DU): AED3.26 as of 16 June, Rating: Buy, FV: AED4.20/share, MCap: USD1,301mn, ARMX UH / ARMX.DU