GoDubai
  
  
  
  
Citylife > Press Release
  Home Contact us Add to Favourites
Most Recent Postings
More Press Releses
Featured Sections

Event Finder
A daily roundup of exhibitions, promotions and other events in Dubai and the rest of the Emirates.
Submit an Event
Latest Dubai Press Releases >> Real Estate and Retail

 
  Share

UAE, January 15, 2018 - Drake & Scull International PJSC (DSI), a regional market leader in engineering and construction services, has announced that its general contracting subsidiary, Gulf Technical Construction Company (GTCC), is negotiating AED 1 billion worth of contracts with Wahat Al Zaweya in Al Ain, and has also been awarded as part of the negotiations a AED 250 million contract to develop the Nasayem project in Wahat Al Zaweya.

Under the terms of the agreement, GTCC has already started the construction works for the 336-unit villa complex Nasayem project, which will be composed of 290 three-bedroom villas and 46 four-bedroom villas.

The contract award for Nasayem project in Wahat Al Zaweya has been secured and finalized, while final negotiations are now underway for additional contracts that are valued at AED 750 million. The negotiations are expected to be concluded in the first half of 2018.

Rabih Abou Diwan, Investor Relations Director, Drake & Scull International PJSC, said: “The new Wahat Al Zaweya contract is a great start towards what we expect to be an invigorated fiscal year marked by steady recovery and further stability. DSI is now pursuing accelerated growth and sustained industry leadership through key projects such as this that showcase our unrivalled expertise and the market confidence we continue to enjoy. We expect more of such positive developments in the coming months from GTCC and across all our divisions.”

The new project award reflects the strategic and long-term investment of Tabarak Investment at Drake & Scull International--moving ahead with its plans to support the company to achieve full operational recovery by completing existing projects, targeting new ones and looking for new opportunities to diversify and expand income. Tabarak Investment has confirmed a significant improvement in the efficiency of operations under the leadership of DSI's new management, which will support the latter's financial performance during this year. 



Posted by : GoDubai Editorial Team
Viewed 2501 times
Posted on : Tuesday, January 16, 2018  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
Previous Story : Masdar and Abu Dhabi Department of Transport to collaborate on sustainable, electrical and autonomou...
Next Story : SteelFab 2018 showcases the latest metal working technologies at Expo Centre Sharjah
Email this article Print this article

Share this article with your friends and followers
NewsVine

Comments

Back to Top  
Most Viewed Press Release posted in the last 7 days
Safilo Group Reveals Its Spring/ Summer 2018 Collection
Redefining the Skin Clinic Experience. #allnewkaya opens in Muscat City Centre!
Optim-Eyes Lashes & Brows with Filorga
Catch Some Zzz's in the IKEA Nap Truck
Kate Spade New York Spring 2018 Collection
South African artisans of fine leather products look to make big impression at L...
Raymond Weil's Freelancer Ladies
Dual Investments Brand LE66 to Relocate from City Walk to New Dubai Location in 2018
Tag Heuer Carrera Heuer 02
Global Expansion in sight for ICONS© Coffee Couture
Do You Feel Sleep Deprived? Nearly Half of UAE Would Give Up Social Media for an...
Galderma's “Leave Your Mark” Mobile Clinic heightens awareness of skin diseases ...
15,000 participate in the Dubai Cares' annual Walk for Education 2018 in support...
Indian FMCG Conglomerate Hamdard Laboratories brings “The Drink of India” - Rooh...
Pink Caravan Ride Launches Mobile Mammography Clinic to Offer Specialised On-the...
Preparing the perfect table setting with Bits & Pieces
Capillary's digital growth initiative ‘Accelerate' partners with Google
Middle East Fuji LLC exhibits the Gold medalist of Japanese branded “Kobe Beef” ...
Dubai Festival City marks successful first ever Nike+ Run Club edition
Bean Body's Quick Guide To Men's Exfoliation
Saeed & Mohammed Al Naboodah Group Celebrates 60 Years of Excellence
Tommy Hilfiger celebrates the essence of ‘Classic American Cool'
Give Your Mother the Gift of Time With D1 Milano
Get Your Weekend Entertainment Fix at Boxpark
His Excellency Dr Thani Al Zeyoudi Chairs First Meeting of UAE Council for Clima...
Classically elegant and stylish, the titanium mechanical NJ0090-13P makes a defi...
British Snowboard sensation Jamie Barrow breaks Guinness World Record for faste...
Excalibur Limited Editions launched to commemorate Kuwait National Day
‘First Aid Training' for Mental Health at The LightHouse Arabia
Sharjah Police Workshop Emphasises Innovation Benefits for All
John Lewis Home for Timeless Designs
French Electricity expertise to be showcased once again this year at Middle East...
Ministry of Climate Change and Environment and Majid Al Futtaim Announce MoU to ...
GreenParking EV Network to power electric vehicle across UAE and Oman
MENA region U.S. egg import value grows 73% in 2017
City Walk Hosts UAE's First Spring Festival Parade
Emirates SkyCargo transports first space satellite manufactured in the UAE
Hanadi Al Suwaidi: Zayed Al Nahyan Established Innovation by Unifying UAE
Celebrity Master Chef Mr Sanjeev Kapoor visits Al Maya booth at Gulfood 2018
Year of Zayed: An Exceptional Watch for an Exceptional Event
Ministry of Climate Change and Environment Launches Awareness Campaign for the I...
Jebel Ali Free Zone Food and Beverage Sector Records 12% Growth in 2017
Chinese TV Brand TCL Challenges Top Global Players
Celebrity Make-up Master-classes Make MyBeautyFest A Must!
Inviting all Parents and Babies for a Fun Weekend with Johnson's® at JBR Walk
Global automotive aftermarket manufacturers gear up for robust business growth a...
Samsung Electronics Unveils a Simple, Seamless and Intelligent IoT Experience at...
Nikai's search for best legacy recipe makes three Dubai residents winners
His Highness Sheikh Mohammed bin Rashid Al Maktoum Calls for 7th Edition of Worl...
Pure Health to operate National Unified Medical Records program