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Home / NEWS / Drake & Scull wins $453m Saudi Lamar Towers deal

Drake & Scull wins $453m Saudi Lamar Towers deal

on May 21, 2013




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RELATED ARTICLES: DSI lands $105m of EPC contracts in Saudi, IndiaDrake & Scull boss says no plans to sell his stakeDrake & Scull posts 47% Q1 profit rise

Drake & Scull Construction, the general contracting arm of the Dubai-based MEP specialist, has won a $460m (SR: 1.725bn) contract to complete the building of the the Lamar Towers project in Jeddah.

The company was awarded the contract by Lamar Investment and Real Estate Development Co. The project involves a pair of high-rise towers of 322m and 293m reslectively, linked by a 13-floor curved podium. The 322m tower will have 57 storeys and the 293m tower 49 storeys.

The project was initially announced in 2007, but was halted in 2009. However, it has since been restructured and refinanced and a new development company established to take it forwards.

One of the towers will be a commercial building and the other residential. They will be built on a 34,800m2 plot on Jeddah's corniche and will have a total built-up area of 409,770m2. Construction work on the towers is set to complete during the final quarter of 2015.

Drake & Scull CEO Khaldoun Tabari said: “The Lamar Towers Project is a very important vote of confidence in the technical capabilities and specialized expertise of Drake & Scull International in KSA.

"The scope of work required for this project highlights DSI’s flexibility in managing all types of construction challenges and requirements.

"We will continue to consolidate our expertise, technologies and resources as we support the on-going boom in KSA’sconstruction and real estate landscape.”

Saleh Muradweij, managing director of Drake & Scull Construction, added: “We are quite familiar with the unique architectural design of the project as we are currently successfully executing the Jawhara tower in Jeddah, which is a project of similar structural scale and engineering complexities.

"The construction of this extraordinary structure is scheduled to be completed by the fourth quarter of 2015 and will be one the most remarkable landmarks in the region. We are delighted to have been chosen to execute this iconic project and to contribute to the landscape development of the city of Jeddah. ”

 



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