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Wed 10 Mar 2010 04:55 PM

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Drake & Scull subsidiary in $131m deals

Gulf Technical Construction Co bags two contracts from Dubai's Damac.

Drake & Scull subsidiary in $131m deals
NEW FIRM: GTCC is a subsidiary of Drake and Scull Construction (DSC), the new civil contracting company set up by Drake and Scull International.(Getty Images)

Gulf Technical Construction Company (GTCC) Dubai, a subsidiary of Drake and Scull International newly formed construction arm, has been awarded two contracts worth AED484m ($131.77m) by Dubai developer Damac Properties, according to a statement released on Wednesday.GTCC is a subsidiary of Drake and Scull Construction (DSC), the new civil contracting company set up by Drake and Scull International, and the deal with Damac Properties is to build two towers in Dubai.

GTCC will immediately begin construction on Lakeside, an AED371m ($101m) eco-friendly residential building comprised of four towers located in International Media Production Zone and on the AED113m ($30.76m) 15-storey The Corner development in Business Bay.

DSI’s subsidiaries have previously worked on Royal Amwaj Hotel and Resort on The Palm Jumeirah, KPM Tower in Dubai Marina and the Mangrove Place project in Abu Dhabi.

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