Drake & Scull wins first contract in Syria
MEP giant to provide services to AED85 million Rotana Gardenia hotel
Drake & Scull International (DSI) PJSC has won its first contract in Syria since setting up an office in the country earlier this year.
The Dubai-listed MEP giant, which has a broad network of offices in the Gulf region including a construction arm in Saudi Arabia, snapped up the mandate to provide MEP work for the AED85 million Rotana Gardenia Hotel and Furnished Apartments, based in Homs.
Syria’s Rotana Gardenia is a five-star hotel with a total built-up area of 84,000m², operated by the Rotana Group and situated in the North-Western section of Homs. The hotel features four basement floors, two floors of banquet halls, three floors of shopping malls, 289 hotel rooms on 26 floors, 16 floors of furnished apartments, as well as other facilities. Gardenia Real Estate Investment is the developer, and the contractor is SBG-Al Marasem.
Work on the project will begin immediately and is scheduled for completion in June 2012.
Khaldoun Tabari, DSI’s CEO, said the company is proud of the project win in a country that “offers many potentially lucrative opportunities, particularly in the construction industry”.
He added: “DSI recognises Syria’s potential which is why the company established an office in the country earlier this year, allowing us to begin operations immediately in order to maximise efficiency.”
Major governmental reforms have allowed Syria’s economy to grow and open up to foreign investment in the last few years. However, the country’s population is expected to see a decline in growth rate of 5.63% this year, according to 2009 forecasts by the CIA World Factbook.
DSI’s win continues a highly successful year, winning contracts in Oman, Qatar and Saudi Arabia among others. The company also engages in joint ventures, such as the link with Al Zamil to provide MEP services to the Information Technology and Communications Centre in Riyadh, an AED460 million contract. In July, Drake & Scull passed the AED2 billion mark of projects won in 2010.