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Sun 21 Sep 2014 11:55 AM

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Dubai's Drake & Scull wins $129m Saudi contract

Residential compound in Riyadh is due to be completed in 2 years

Dubai's Drake & Scull wins $129m Saudi contract

Dubai's Drake & Scull (DSI) has been awarded a 487 million riyals ($129.85 million) building contract in Saudi Arabia, according to a bourse statement on Sunday.

Gulf Related, which awarded the Riyadh residential contract to DSI, said it would be completed within two years.

Located in the growing North Western part of Riyadh on King Khalid Road, and situated ten minutes from King Abdullah Financial District and twenty minutes from King Khalid International Airport, Antara is a self-contained residential compound aimed at expatriates.

As a result of the deal, the contractor was one of the top gainers on the Dubai bourse, rising 2.3 percent.

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