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Drake & Scull Construction secures first major contract in Saudi valued at SR 450 million


[Dubai, July 4, 2010] Drake & Scull Construction Saudi Arabia (DSC KSA), the civil contracting arm of Drake & Scull International (DSI) PJSC in the Kingdom, which was established recently, has been awarded a SR 450 million contract for Al Jawharah project in Jeddah, Saudi Arabia.  Being developed by Damac properties, Al Jawharah is a 42-storey building located on the Jeddah Corniche. The –development will include five-bedroom penthouses as well as one, two, three and four-bedroom apartments spread across a built-up area of 87,000 sqm and is expected to reach completion in 28 months.  Speaking of the win, DSC’s Executive Director, Saleh Muradweij said: “Being awarded this project and working with such a prominent developer such as DAMAC is a good indication that the newly-formed DSC KSA is off to an excellent start in the Kingdom.” DSC KSA is the newly-established, civil contracting arm of DSI PJSC, set up to manage and control the civil contracting operations in the Kingdom of Saudi Arabia. It will also drive civil construction business development efforts as well as oversee operations of future civil projects and acquisitions that will play a role in DSI’s expansion plans.


Medium liquidity with the start of routine anticipation for the 9M 2017 financial data disclosures

A transaction on the stocks of PALTEL raises the liquidity levels this week



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