Drake & Scull awarded Dh396 million contract

Dubai: Drake & Scull International PJSC said it has been awarded contracts worth a combined Dh369 million to construct three banking facilities in Saudi Arabia and a utility project in Abu Dhabi.

DSI will build for Al Rajhi Bank a cash centre, operations centre and data facility in Riyadh at a cost of Dh287 million, it said in a statement posted on the Dubai Financial Market website. The company will also construct a government utility project in Abu Dhabi for Dh82 million, it added.

“These projects are indicative of the favourable market conditions and the aggressive pace of development being undertaken across the public and private sectors in two of our main growth markets,” said Saleh Muradweij, the executive director of Drake & Scull Construction.

DSI said it has now managed to secure work worth Dh1.1 billion in Saudi, Qatar and Abu Dhabi so far this year.

Its shares closed trading on Monday at Dh0.767.