21 October 2015
Drake & Scull secures AED 2.43 Billion in project awards year to date

UAE - Drake & Scull International PJSC (DSI), a regional market leader in the integrated design, engineering and construction disciplines of General Contracting, Mechanical, Electrical and Plumbing (MEP), Water and Power, Rail, Oil and Gas, Water and Wastewater Treatment, announced that UAE based major real estate developer Nakheel has awarded Gulf Technical Construction Company (GTCC, Drake & Scull's general contracting subsidiary) a AED 353.75 million contract to build the Circle Mall located between Sheikh Mohammed Bin Zayed Road, Al Khail Road and Hessa Street in the Jumeirah Village Circle. Conceived as a new leisure destination for residents and tourists in Dubai, the project will cater to the retail requirements of residents living in the Jumeirah Village and its surrounding areas.

The Circle Mall will comprise 235 shops, a multi-screen cinema, a health clinic, cafes, restaurants and a food court, spanning more than 432,000 sq. feet in total built up area. Nakheel has stated that about half of the leasable space has been reserved by retailers with tenants including Spinneys, Oscar Cinemas, Sports Market, Early Learning Centre, Mamas & Papas, Grand Optics, Tips & Toes, Bare Salon and Supercare Pharmacy.

Khaldoun Tabari, CEO and Vice-Chairman of Drake & Scull International PJSC, said: "We are pleased to start off the fourth quarter of 2015 on a strong positive note via the AED 353.75 million Circle Mall project award for our general contracting subsidiary GTCC. The project win has helped DSI achieve AED 2.43 Billion in project awards since the start of 2015, and we remain optimistic about securing more high profile projects before the end of the year. The Circle Mall presents us with an opportunity to cement our credentials as the general contractor of choice for large scale projects in the UAE. We believe that our extensive experience in delivering a diverse range of high profile, complex real estate developments, backed by the region's most competent and skilled workforce and management gives us a leading edge. We look forward to contributing towards the UAE's development goals as the UAE moves forward with the Expo 2020 preparations."

GTCC is currently delivering The Pointe, the Maliha Hospital, the Binary Tower as well as the Al Reef Residences Tower in the UAE. GTCC's project portfolio includes prominent UAE landmarks such as the Royal Amwaj Resort and Spa, Movenpick Hotel and Oceana Residences on the Palm Jumeirah, Laguna Towers in Jumeirah Lake Towers, The Corner in Business Bay, Park Corner in Jumeirah Village South, Lakeside Towers in the IMPZ, the Cayan Business Center in TECOM in Dubai and the Mangrove Development at Reem Island in Abu Dhabi.

-Ends-

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, ISO 27001:2013 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 49 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
Orient
Planet PR & Marketing Communications
Dubai, United Arab Emirates
Tel:  00971 4 4562888
Email: media@orientplanet.com
Website: www.orientplanet.com
 

© Press Release 2015