RIYADH – The joint venture between Arabian Construction Company Saudi Arabia and Drake & Scull Construction Saudi Arabia (DSC KSA), a wholly- owned subsidiary of Drake & Scull International (DSI) PJSC, and has been awarded a SR2.7 billion ($720 million) contract to build phase three of the Jabal Omar development in Makkah. Under the terms of the joint venture agreement, DSC share will be 50 percent of the overall value of the contract. The third phase of the Jabal Omar scheme will involve the construction of four hotel towers with a total built up area of 400,000 square meters. The towers will also include a 5 star and 3 star hotel. Drake & Scull International PJSC (DSI) is a regional market leader delivering world class quality projects via end to end solutions that provide integrated design, engineering and construction disciplines of mechanical, electrical and plumbing (MEP), civil contracting, and water & power, infrastructure, rail in addition to oil & gas through people, innovation, and passion. DSI established its first office in Abu Dhabi in 1966, and has since expanded operations to encompass offices in Dubai, Egypt, Kuwait, Libya, Oman, Saudi Arabia, Syria, Qatar, Jordan and Thailand, as well as managing projects in Europe and other parts of North Africa. DSI ‘s main business streams include Drake & Scull International, which serves as the MEP arm, Drake & Scull Construction (DSC), which is the General Civil Contracting unit and Drake and Scull Water & Power (DSWP), which focuses on the Water & Power and Infrastructure sector. In 2008, DSI offered 55 percent of its shares to the public and the IPO was oversubscribed 101 times. Ernst & Young ranked the IPO among the top 20 global IPOs in 2008. DSI has since then used the funds to integrate, establish and acquire businesses that compliment its corporate strategy of expansion into new markets, via organic and inorganic growth. — SG
