Drake & Scull wins AED52.8 million MEP contract for Ritz-Carlton Residences in Dubai
Dubai-listed engineering and construction company Drake & Scull International (DSI) has been awarded a AED52.8 million ($14.4 million) contract to deliver mechanical, electrical and plumbing (MEP) works for The Ritz-Carlton Residences in Business Bay.
The contract was awarded by Khamas Group of Investment Companies, a UAE-based real estate developer, marking another addition to DSI’s growing project portfolio following its restructuring.
Located along the Dubai Water Canal, The Ritz-Carlton Residences, Dubai is a luxury branded residential development comprising 48 exclusive residences, catering to the emirate’s expanding high-end property market.
The latest award reflects DSI’s continued business recovery after completing a major restructuring programme in 2024, which included plans to raise its capital by up to AED600 million to strengthen operations and support future growth.
The company has since secured several new contracts across the UAE. In its first-quarter 2025 financial results, DSI reported an 81% year-on-year increase in net profit to AED4.4 million, while revenue surged 152% to AED76.6 million, highlighting the firm’s improving financial performance amid robust construction activity in Dubai.
Source: ZAWYA
