Rising Strong in Dubai's Boom
Drake & Scull International (DSI) just scored big! The Dubai-listed engineering and construction firm snagged a 52.8 million UAE dirhams ($14.4 million) mechanical, electrical and plumbing (MEP) contract for The Ritz-Carlton Residences in Business Bay.
The Khamas Group of Investment companies, a sharp UAE-based real estate developer, handed over the deal. Moreover, this 48-key project sits beautifully along the Dubai Water Canal, promising ultra-luxury living.
Power Moves After the Turnaround
DSI has secured several key projects since the company underwent a major restructuring in 2024, which included a plan to increase capital up to AED 600 million.
In May, the company reported an 81% year-on-year rise in Q1 profit to AED 4.4 million, with revenues hitting AED 76.6 million, indicating a 152% year-on-year uptick. Consequently, DSI now charges forward with fresh energy and unstoppable momentum.
