Company to undertake complete MEP works for the high profile mixed use development located in Palm Jumeirah

UAE, 13 April, 2015 - Drake & Scull Engineering (DSE), the engineering subsidiary of Drake & Scull International PJSC (DSI), a regional market leader in the integrated design, engineering and construction disciplines of General Contracting, Engineering (Mechanical, Electrical and Plumbing (MEP), Water and Power), Rail, Oil and Gas, and Water and Wastewater Treatment, has announced that it has been awarded a contract worth AED 334 million for MEP works on an upcoming mixed use Hotel and Residences building development to be constructed on the Palm Jumeirah in Dubai.

Under the terms of the agreement, DSE will complete the supply, installation, testing, commissioning and handover of detailed MEP works for the leading hotel. The upscale project located on the man-made island consists of three separate buildings of G+7 floors constructed over a common basement and will include a 360-room Five star hotel and two residential buildings. The scope of work extends to the pools and associated landscaping and will be completed by 2016.

Khaldoun Tabari, CEO and Vice-Chairman Drake & Scull International PJSC commented: "We are pleased to start our second quarter with a significant project award for Drake & Scull Engineering. We achieved nearly AED 5.9 Billion in project awards in 2014 across MENA, Europe and Asia and are happy to maintain our streak of winning major projects in our key markets. The project award is a noteworthy addition to our projects' backlog which grew by 20% in 2014 and touch an all-time high figure of AED 14.4 Billion. The UAE real estate is viewed as a barometer for the state of the region's construction sector and we are pleased to note the resilience shown by the real estate industry and the determination of the UAE's government to sustain the investment into critical infrastructure that is required to meet the needs of the growing population, as well as the upcoming Expo 2020.

The Engineering business continues to be one of the main drivers of DSI's growth and we look forward to announcing more project wins in our key markets and delivering improved results in FY 2015" 

Ahmad Al Naser, Managing Director of Drake & Scull Engineering LLC, said: "The MEP contract for the mixed use development is an important win for DSE as it is a very prestigious and iconic addition to the world famous Palm Jumeirah landscape. The project win adds to our strong track record in the MENA hospitality business and especially in the UAE where we've delivered prestigious landmarks like the Rosewood Hotel, Centro Capital Centre, Park Rotana, Aloft hotel in ADNEC, Shangri-La Between the Bridges and the Jumeirah Beach Hotel previously. Our tremendous experience gained by delivering more than 4000 hotel rooms and suites in the region in the last 4 decades will prove crucial for the successful delivery of this project. The hotel project award follows our previous announcement of the AED 395 Million Jewel of the Creek project win in Dubai recently and we are pleased to remain the engineering partner of choice for high class luxury hospitality projects in the MENA region.

DSI's engineering division continues to thrive, driven by sound fundamentals and has been able to sustain its momentum by securing a significant number of projects in the last decade. We continue to focus on growing the Engineering business globally while also improving our productivity and overall margins. DSE is positive about its prospects of winning major projects and is very optimistic about the regional engineering industry's potential in 2015." 

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About Drake & Scull International PJSC
Drake & Scull International PJSC (DSI) is a regional market leader delivering world class quality projects via end to end solutions that provide integrated design, engineering and construction disciplines of General Contracting, Mechanical, Electrical and Plumbing (MEP), Water and Power, Rail, Water and Wastewater Treatment, Waste to Energy and Oil and Gas, through People, Innovation, and Passion.

DSI established its first office in Abu Dhabi in 1966, and has since expanded operations to encompass offices in Dubai, Abu Dhabi, Egypt, Kuwait, Oman, Saudi Arabia, Qatar, Jordan, Algeria, Iraq, India, Thailand, as well as managing projects in Europe and other parts of North Africa.

DSI's main business streams include Drake & Scull Engineering, which serves as the MEP and Water & Power arm, Drake & Scull Construction (DSC), which is the General Civil Contracting unit, Drake & Scull Oil & Gas, which undertakes oil pipelines and related petrochem projects, Drake & Scull Rail, Germany based Passavant Energy & Environment which focuses on Water and wastewater treatment as well as waste to energy and Drake and Scull Development, focusing on the Infrastructure sector.

In 2008, DSI offered 55% of its shares to the public and the IPO was oversubscribed 101 times. Ernst & Young ranked the IPO among the top 20 global IPOs in 2008.

DSI has since then used the funds to integrate, establish and acquire businesses that complement its corporate strategy of expansion into new markets, via organic and inorganic growth.

The fully Integrated Management Systems, certified to ISO 9001:2008, ISO 14001:2005 and OSHAS 18001:2007 standards are compliant with leading building, health and safety regulations, as well as sound environmental and energy management procedures.

DSI is a leader through experience, and has established a regional leadership position over 48 years of successfully completing the most complex projects on time, within budgets and matching set quality parameters.

DSI has delivered more than 700 projects around the world in the last five decades catering to aviation, residential, mixed use, power plants, district cooling plants, hospitality, healthcare, renewable energy, data centers, petrochemical, rail, commercial, government, leisure, and infrastructure sectors.

For further information, please contact:
Rabih Abou Diwan
Corporate Communications Manager
Drake & Scull International
Mobile: +971 52 800 34 12
Rabih.aboudiwan@drakescull.com

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© Press Release 2015