x Abu Dhabi, UAEFriday 28 July 2017

Qatar helps to lift Drake & Scull International order book

Drake & Scull International has locked in Dh1.3 billion worth of construction projects this year, fueled by mega-project developments in Qatar and infrastructure spending across the Gulf.

Drake & Scull International has secured Dh1.3 billion (US$353.9 million) worth of construction projects this year, fuelled by big project developments in Qatar and continuing infrastructure spending across the Middle East and North Africa.
The construction company, based in Dubai, said it anticipated its Qatari arm of the business to "increasingly contribute" to the growth of the company overall, especially within the recently established rail and civil contracting divisions of its operations.
"The energetic pace of construction activities in Qatar has certainly opened a huge window of opportunity to accelerate our growth plans and further expand our scope to cater to a much broader range of projects, including upcoming mega-projects across the country," said Saleh Muradweij, the managing director of Drake & Scull Construction, the company's civil contracting arm.
Drake & Scull said it expected a "substantial pickup" in construction activity during the second quarter in Qatar. It already has projects in the works in the country to assist the government's task of hosting the 2022 Fifa World Cup.
Drake & Scull said it was bidding across its different business areas.
But the company faces challenges when it comes to grappling with higher costs.
"We anticipate rising pressures on pricing levels given the severe competition and the costs associated with the sourcing of the necessary human and technical resources to cater for such large-scale projects," said Khaldoun Tabari, the chief executive.
nparmar@thenational.ae
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