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Sun 15 Mar 2015 01:31 PM

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Dubai's Drake inks JV deal for role in $1.1bn Dubai project

Drake & Scull forms $107m joint venture with Habtoor Leighton Specon to provide MEP services for part of Jewel of the Creek project

Dubai's Drake inks JV deal for role in $1.1bn Dubai project

Dubai's Drake & Scull has formed a joint 395 million dirhams ($107.55 million) joint venture with Habtoor Leighton Specon to provide mechanical, electrical and plumbing services for part of the $1.1 billion Jewel of the Creek project, it said on Sunday.

Habtoor Leighton Specon (HLS) said it has been nominated by Dubai International Real Estate (DIRE) as the MEP contractor of the package 8 mixed-use project.

Package 8 consists of five hospitality buildings ranging between 15 and 19 floors, featuring a hotel and serviced apartments buildings, a ballroom and an attached café; a marina, including four foot bridges and one vehicular bridge, a statement said.

Construction work on Jewel of the Creek Package 8 has commenced and completion is targeted for Q2 2017.

The statement said the objective of the development is to "transform the location into a vibrant urban centre and a prominent landmark in the heart of Dubai".

The new JV will work under the main contractor of the project, the Habtoor Leighton Group, to deliver the MEP works of the package, the statement added.

Thrasos Thrasyvoulou, CEO and managing director of Habtoor Leighton Specon, said: "The Jewel of the Creek project is of great significance to HLS and the wider Habtoor Leighton Group. We are honoured to have been selected as DIRE's MEP contractor of choice."

Ahmad Al Naser, managing director of Drake & Scull Engineering, added: "We are committed to playing a key role in the ongoing preparations for World Expo 2020 through our involvement in several iconic additions to Dubai's landmarks.

"On a broader scale, the UAE represents one of our bigger markets and so we anticipate further growth in our backlog here."

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