Drake clinches $122m Saudi project
Dubai, February 17, 2013
Drake & Scull International (DSI), a regional market leader in integrated design, engineering and construction sector, said its civil contracting unit has won a Dh450 million ($122.4 million) project in the southern province of Saudi Arabia.
Drake & Scull Construction (DSC) said the work on the project is due to start immediately and is likely to be completed in December 2014.
DSC said it has achieved strong and consistent performance since its inception in 2010. The company has successfully carried off the transformation from being primarily a UAE- based contractor to substantially increasing its footprint in both Saudi Arabia and Qatar within the span of one year.
Commenting on the win, Saleh Muradweij, the executive director said, “DSC has gone through major milestones in market diversification, backed by a competent management and exceptional workforce. Within a span of a couple of years, it has become a vital part of DSI, with prestigious high profile projects to its credit already."
"We are very much delighted with this achievement and we expect to announce more details on the scope of the project in the second quarter," he added.-TradeArabia News Service
More Construction & Real Estate Stories
- Dubai unveils $300m hitech 'green' city project
- Deyaar plans $245m Dubai complex
- IFA unveils $272m Dubai mixed-use project
- CBRE tops Fortune’s most admired firms list
- Kuwait's real estate sales hit $1.1bn in Jan
- Dubai RTA awards $27m roads contract
- Work to start on Bahrain beach project
- Damac launches luxury apartments at Expo site
- Kuwaitis top GCC property buyers in Oman
- Rubber World to showcase at Big 5 Saudi
- Tool to help create effective property listings
- 'Smart' move by Dubai Design District
- Drake unit wins $13m contract in India
- Solar-powered cleaning boats launched in Sharjah
- $27m Expo Hotel Sharjah deal signed
- Arabtec unit wins $282m Emaar contract
- Abu Dhabi to host pool & spa expo
- ADCM unit secures $213m bridging loan
- Cluttons Dubai launches new luxury apartments
- Dubai developer Damac profits triple to $641m
- Dubai to start work on $544m water canal
- Dubai property market can absorb 25,000 units
- Jones Lang LaSalle renamed 'JLL'
- Aldar raises synergy estimate from Sorouh merger
- UAE industrial property sector keeps up growth
- Dubai residential property prices up 26pc
- Majid Al Futtaim to build new mall in Dubai IMPZ
- 300 firms to take part in Dubai property forum
- Naseej inks deal to develop Bahrain projects
- Dadabhai unveils new residential project