Drake & Scull wins Dh82m healthcare project in Abu Dhabi
A subsidiary of the Dubai-based contractor Drake & Scull International (DSI) has won a Dh82.5 million healthcare project in Abu Dhabi, boosting its total job awards this year to Dh5.6 billion, the firm said.
“With the projected increase in the UAE’s population as a result of the upcoming growth in the real estate sector due to the 2020 Expo, the demand for critical and quality health care is at an all-time high,” said Ahmad Al Naser, the managing director of Drake & Scull Engineering. “MEP [mechanical, engineering and plumbing] systems play a crucial part in core infrastructure of hospitals and other medical facilities.”
A report from the investment bank Alpen Capital shows that the GCC healthcare industry is expected to grow to Dh257bn by 2018 and “we are keen to play a vital role in the development of the regional healthcare industry by offering world-class engineering solutions”, Mr Al Naser said.
Currently, DSI has a record projects backlog totalling Dh15.3bn across the Middle East and North Africa, Europe and Asia.
In November, the contractor won a Dh172m contract for a district cooling plant at a residential complex in Abu Dhabi.
DSI reported a 16 per cent fall in third-quarter profit, dragged down by a drop in revenues in the key market of Saudi Arabia and a legal row over a UAE project.
The contractor reported profit of Dh25.2m for the three months to September, compared with Dh30m in the same period last year.
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Published: December 16, 2014 04:00 AM