Drake & Scull gets Dh490m Gulf Related construction contract

Dubai: Gulf Related, a real estate developer, said on Sunday it has awarded a construction project in Saudi Arabia called Antara to Drake & Scull Construction for Dh490 million.

“The launch of the Antara residential compound should generate an attractive rental income and a significant long term cash yield for Gulf Related,” said Karim Al Solh, co-managing partner at Gulf Related. Construction will be completed in 24 months from the awarding of the contract, the company said in a statement.