Reef Real Estate awards Drake & Scull AED 180 million General Contracting deal for Reef Residence Tower in Dubai

UAE, January 25, 2015 - 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 Reef Residence Real Estate has awarded Gulf Technical Construction Company (GTCC, Drake & Scull’s general contracting subsidiary) an AED 180 million project for the Al Reef Residence Tower, located in Jumeirah Village South, Dubai.

Under the terms of the agreement, GTCC will provide civil, architectural, and mechanical, electrical and plumbing (MEP) services on the high rise tower which also includes complete construction work of two basements, a ground floor, and 38 floors in the heart of the rapidly developing Jumeirah Village area in Dubai. The 38-storey tower, dubbed Reef Residence, will be built on the periphery of the JVC development, adjacent to the Els Club Golf Course in Dubai Sport City. The tower comprises 378 homes, a combination of studio, 1 and 2 bedroom apartments in addition to seven retail units that face the Sheikh Mohammed Bin Zayed Road. Lifestyle amenities include a large, landscaped leisure deck with BBQ areas and a playground, two swimming pools and gym.

The Reef Residence project is developed by Sama Alkhaleej Real Estate Development Company, a wholly owned subsidiary of Reef Real Estate Investment Company. The engineering consultant is National Engineering Bureau and the project is managed by Arcan Project Management Services.

Khaldoun Al Tabari, CEO and Vice-Chairman of Drake & Scull International, said: “We are delighted to have been chosen by Reef Real Estate to build the prestigious Reef Residence Tower in the heart of Dubai’s booming prime real estate. The UAE is one of the biggest markets for Drake & Scull Construction (DSC) where GTCC has delivered many landmark projects. The residential tower is a significant development in Dubai, and its addition to the GTCC portfolio is in line with our expansion plans in the UAE and Dubai in particular which boasts of a thriving construction sector. GTCC has successfully worked on several leading developments in the UAE and will continue to build upon its impressive track-record.”

“Overall, we expect the region’s general contracting business to grow significantly in the near future and benefit from our integrated capabilities to undertake advanced engineering, oil and gas, and rail related works in collaboration with our subsidiary companies,” concluded Tabari.

GTCC’s portfolio includes prominent UAE landmarks such as the Royal Amwaj Resort and Spa and Movenpick Hotel and Oceana Residences on the Palm Jumeirah, Laguna Towers at Jumeirah Lake Towers, The Corner at Business Bay, Park Corner in Jumeirah Village South, Lakeside Towers at IMPZ, the Cayan Business Center at TECOM in Dubai; and the Mangrove Development at Reem Island in Abu Dhabi.