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Dubai’s Drake & Scull in $95.8M Saudi deal

The Saudi unit of Dubai contractor Drake & Scull has signed a 352 million dirhams ($95.8 million) deal to build a commercial development project in Riyadh, the company said in a statement on Tuesday.

December 6, 2011 10:33 by

The deal brings the company’s total value of awarded projects in the kingdom to 2.4 billion dirhams for the year.

The company said Saudi Arabia’s construction market, and Riyadh in particular, remains strong.

“We are in the process of closing another deal in the capital which we hope to announce soon,” said Khaldoun Tabari, chief executive of Drake & Scull. (Reporting by Shaheen Pasha; Editing by Matt Smith)

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