Drake & Scull International awarded AED200 million civil construction contract in Dubai
Source: BI-ME , Author: Posted by BI-ME staff
Posted: Sun May 6, 2012 12:53 pm

UAE. Drake & Scull Construction the Civil ( DSC) Contracting  arm of Drake & Scull International (DSI) PJSC, a regional market leader in integrated design, engineering and construction disciplines of Civil ContractingWater and Power and Mechanical, Electrical and Plumbing (MEP), has announced that it has been selected as the main contractor for the construction of the Binary commercial tower at Dubai’s Business Bay.

The contract is valued at AED 200 million and the scope includes all associated construction works to complete the tower.

Developed by ‘Omniyat’ a market leading real estate development company based in Dubai, the Binary is a 25-story commercial tower offering grade A commercial space with magnificent waterfront views of the thriving Business Bay area in the heart of Dubai’s Skyline.
 
“We have been able to secure some of the key developments that we have been eyeing over the past months as part of our efforts to increase our market share in the civil business across the MENA region.

"The Binary agreement reflects our successful and continuous growth in this line of business and gives us cautious optimism about the construction industry outlook in the UAE. We have already mobilized on site and commenced work with an estimated completion date in early 2014” said Saleh Muradweij, Managing Director of Drake and Scull Construction. 

DSC 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 KSA and Qatar and North Africa within the span of one year.

The emphasis on regional diversification has proved to be highly strategic as DSC achieved tremendous progress particularly in Saudi Arabia and just recently through a major breakthrough into the Algerian market with a project valued at AED 845 million.

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

date:Posted: August 22, 2014
INTERNATIONAL. By 2040, Africa will experience faster economic growth than any other region and is expected to have the biggest labour force in the world; By 2030 Dar es Salaam and Luanda could have bigger populations than London has now.
date:Posted: August 21, 2014
INTERNATIONAL. The report found there are 15 million middle-class households in 11 of sub-Saharan Africa's top economies this year, up from 4.6 million in 2000 and 2.4 million in 1990, an increase of 230% over 14 years.
date:Posted: August 21, 2014
UAE. "The establishment of QIFs aimed at sophisticated, high-net worth investors is a welcome development which reflects the fact that a one size fits all approach to regulation is not appropriate."
SAUDI ARABIA. Saudi Arabia set out draft proposals on foreign-shareholder limits as one of the world's most restricted stock markets prepares to open its doors for the first time to investors outside the region.
dhgate