Dubai's DSI wins its first contract in Egypt
DSI is focusing on projects in Egypt as part of its growth strategy
MEP giant Drake & Scull International (DSI) has won its first contract in Egypt, worth $127 million.
The mixed-use Nile Corniche Project (NCP), situated in Downtown Cairo and being developed by Qatari Diar Real Estate Investment Company, includes construction of a hotel as well as serviced apartments.
Appointed as MEP subcontractor to the project alongside main contractor the Consolidated Contractors Company (CCC), DSI will commence works immediately with a view to completing in 2014.
Speaking about the win, DSI’s CEO Khaldoun Tabari said, “The momentous growth in the Egyptian tourism sector is propelling specialist contractors to tap into the promising opportunities the hospitality industry presents."
“Through the establishment of our offices in Egypt as part of our organic growth strategy, and with this prestigious project win, we are keen to be a part this development and look forward to further growth within the country," he added.
The development consists of a four-level underground car park, an eight-level podium structure and two high rise concrete framed towers, with 37 and 38 levels respectively.
In Tower 1 (North Tower) there will be 102 luxury serviced apartments with four penthouse levels, whilst Tower 2 (South Tower) will have 226 standard rooms, 60 hotel suites, 98 serviced apartments and 16 luxury residential apartments.
The podium structure consists of eight levels of functions rooms, restaurants, front of house, and service accommodation, and will also be the location of Qatari Diar’s regional offices.