DSl awarded Tiara deal

Drake & Scull International (DSI) has won the full mechanical, electrical and plumbing (MEP) contract for the 47-storey Tiara United Towers in Dubai.

Drake & Scull International (DSI) has won the full mechanical, electrical and plumbing (MEP) contract for the 47-storey Tiara United Towers in Dubai.

The contract is worth US $49.2 million (AED181 million) and is expected to be completed by December 2009. The project, which is on Sheikh Zayed Road, is being developed by Zabeel Investments and United Holdings, which formed a joint venture to build the $476 million towers in 2006.

DSI will supply, install, test and commission the complete MEP works including air conditioning systems, ventilation, plumbing, drainage and electrical systems.

"We have been selected due to our successful track record which spans forty years and our proven ability throughout that time to deliver the best quality work within a challenging schedule," said Khaldoun Tabari, chief executive officer of DSI.

Drake & Scull also said last week that it was still awaiting regulatory approval for an initial public offering (IPO) after changes at government level had delayed the decision.

The firm, which plans to list on the Dubai Financial Market (DFM), said it planned to sell a 55% stake and was hoping for approval by the end of March.

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