Shares of Swvl Holdings Corp (NASDAQ:SWVL) surged about 37% in premarket trading on Monday after the company announced it had secured a new five-year contract in the United Arab Emirates valued at up to $5.5 million.
The agreement further reinforces Swvl’s footprint in one of its fastest-expanding markets. The company said it recorded roughly fivefold growth in the UAE in December 2025 compared with January 2025, driven by a strategy centered on enterprise clients, multi-location rollouts, and rising demand for data-driven workforce transportation solutions.
“The UAE has emerged as one of Swvl’s most important and fastest-growing markets globally,” said Mostafa Kandil, Chief Executive Officer at Swvl. “Securing a $5.5 million multi-year contract reflects both the scale of demand we are seeing and the confidence enterprises place in Swvl’s ability to deliver reliable, efficient, and technology-led transportation at scale.”
The new deal fits with Swvl’s focus on longer-term, higher-value enterprise contracts that cover complex transport needs, including operations with multiple shifts and large employee bases.
As part of the deployment, Swvl plans to roll out its full technology and operational platform, providing features such as route optimization, better fleet utilization, and real-time visibility into service performance.
Swvl has been steadily expanding across the Gulf Cooperation Council region, targeting industries such as logistics, manufacturing, education, and large corporate campuses that require scalable and sophisticated mass mobility solutions.