Drake & Scull unit seals AED400m deal

AL REEM ISLAND: GTCC wins a slice of the action at mega project in what marks its first foray into the Abu Dhabi market. (Artist's impression)

Gulf Technical Construction Company (GTCC), the civil contracting subsidiary of services contractor, Drake & Scull International (DSI), has been awarded its first project in Abu Dhabi - an AED400 million contract.

It also includes an AED100 million mechanical, electrical and plumbing contract to be executed by DSI for the Mangrove Place project on Al Reem Island.

For DSI, this is the third project win in 2009 boosting its order book to more than AED6 billion.

Mangrove Place, developed by Luxury Real Estate Development and financed by National Bank of Abu Dhabi (NBAD), is located at Shams Abu Dhabi on Al Reem Island in what is one of the largest mixed use developments in Abu Dhabi.

GTCC's turnover rose from AED50 million in 2005 to more than AED400 million in 2008.

Work on the project has commenced and is expected to be completed by the end of 2010.

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