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2017 Construction Week Power 100: Top five MEP contractors

by Neha Bhatia on Jun 29, 2017

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1. Wael Allan, Group CEO, Drake & Scull International PJSC (Power 100 ranking: 20)

Drake & Scull International’s (DSI’s) overall revenue for fiscal year 2016 fell to $898m (AED3.3bn), from $1.1bn (AED4.2bn) in 2015, with the company noting that its operating performance was affected by cost overruns and revenue reversals on disputed legacy projects.

Despite the drop in the company’s revenue, Wael Allan and the rest of the DSI team are optimistic about the market, with the company’s CEO noting that he’s expecting 2017 revenues to be consistent with DSI’s historical trading levels.

“As of 31 December, 2016, DSI’s order backlog has reached $2.2bn (AED8.1bn),” said Allan. “We believe that the demand for our MEP engineering services remains strong. We are qualified for key opportunities in the region and are well-positioned to secure prospects in the mechanical, electrical, and plumbing (MEP) segment in 2017.”

According to DSI, the total value of projects that it secured in 2016 stood at $221.9m (AED815m), with the UAE and the engineering businesses accounting for 23% and 71% of the backlog, respectively. These figures, Allan said, reflected the company’s “strategic and renewed focus” on its home market and core engineering business.

DSI’s team of 19,000 full-time staff is presently kept busy working on a host of projects in the UAE, Egypt, Jordan, Algeria, and Kuwait, among other locations. In the UAE alone, the company is involved in more than 15 projects that are under development, including the Louvre Museum in Abu Dhabi, for which it has been brought on board to implement all MEP work and incidentals within the 64,000m2 museum complex.

DSI is also implementing the MEP contract for the Presidential Palace in Ras Al Akhdar, in Abu Dhabi, a project valued at $93m (AED340m). It has also been engaged to work on the Jewel of the Creek and Fountain View projects in Dubai.

In addition to its high-profile projects, DSI has identified corporate social responsibility (CSR) activities as another area of focus through the Drake & Scull Foundation.

Allan said: “The Drake & Scull Foundation is an integral part of our commitment to improve the conditions of society and empower people to achieve their dreams.”