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 5453 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
Australia's Number No.1 Natural Skincare Brand* Partners With Jessica Kahawaty
Matthew Fitzpatrick Wins the 2018 Omega European Masters
Introducing New Make-up From Rodial That You Need In Your Kit
Rado reimagines a bold 1960s classic for the 21st Century
Scuderia Ferrari presents Fall winter collection
NARS Erdem SS19 Beauty Report
Introducing VK Beauty Lounge & Bar
Introducing Home Fragrance at Robinsons, Dubai Festival City
Diana Arno Expands Online Shopping to Middle East
Alina Anwar Couture Launches in UAE
Defying Age With Skin Republic's Gold and Platinum Face Masks
British Classics Make a Comeback in Jack Wills AW18 Collections
The Future Is Here
Roberto Cavalli's Exclusive Duo of Fragrances
Bring a Touch of Sophistication to Your Home with The Exclusive SmegXDolce&Gabba...
Lacoste.12.12 Collection
Trevor Sorbie Range Relaunches in the UAE
GROHE Smart Home: The App-Controlled Water Security System
Carl F. Bucherer Celebrates Debut of Its Online Boutique on Jd.Com Launch of Lim...
Honda voted “Preferred Sedan Car Brand of the Year” for the fourth year in a row
FOREO To Attend TFWA: the World's Largest Travel Retail Show
William Collection by Hugo Boss
Al-Futtaim Toyota swoops another win at the Filipino Times Awards
Le Meridien Dubai Hotel & Conference Centre's Restaurant Promotions- October
PAN Emirates bedroom festival with discount up to 70%
Mousses Etoiles to reveal the latest luxury designs of commercial-use outdoor fu...
Dubai Design Week continues to grow, cementing Dubai as the design capital of t...
Al-Futtaim ACE launches its stylish new Outdoor collection
Tips & Toes Hits the Big 3-5!
Tata Communications launches a specialised cyber security lab at Shanmugha Arts,...
Harmony and Sustainability Define Ideal Standard's ‘Esedra' Ceramic Bathroom Col...
Consonni Wraps Up La Vuelta a Espana With a Seventh Place Finish for UAE Team Em...
Akamai Unveils Solutions at IBC 2018 Designed to Mitigate the Challenges and Cos...
Abu Dhabi wins bid to host 2022 ITU Grand Final in world first
Pamper yourself at Perfumery & Co this month, at The Dubai Mall
du Opens New Business Centre in DIFC for Enterprise Customers
Cheyenne Woods: Stepping out of Tiger's shadow
Etihad Cargo Increases Focus on Cold Chain Industry with ‘Freshfoward' Product
Sharjah's Recognition as ‘Accessible City for Physically Disabled' Hailed as His...
Cadillac XT4 Delivers Dynamic Driving Experience
International School of Creative Science Muwaileh celebrates outstanding student...
Volunteers from the UAE join hands with the community in Tasset Peulh village in...
New Homologations for Pirelli Tyres
The Dubai Business Women Council meets with the UN Assistant Secretary-General t...
Debut Jaguar I-PACE eTROPHY Calendar Announced
UOWD launches Ministry-accredited Foundation Studies Program to guide senior sch...
World's first cyborg on artificial senses
Registration for the 5th edition of Camel Trek is now open
Masdar, ADFD and PUC partner to build solar power plant with battery storage in ...
TechCrunch Hosts First Ever Startup Battlefield in MENA