Civil and Building Activities launched in Qatar
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While there is currently a significant over-supply of upscale or luxury housing in many markets, there remains a shortage of more than 3.5 million affordable dwellings across the major markets within MENA.
The Government of Abu Dhabi has unveiled a master plan for the Baniyas-South Wathba area.
During the boom years, real estate developers in the Middle East catered to people with high-end tastes. But as the elite market has reached a saturation point, developers have shifted their focus to affordable housing.
Drake & Scull Construction (DSC), the civil contracting arm of Drake & Scull International (DSI) PJSC, has announced the expansion into the Qatari Market to leverage on the existing MEP and Water and Power business streams.
The company is a regional market leader in integrated design, engineering and construction disciplines of Mechanical, Electrical and Plumbing (MEP), Civil Contracting, and Water & Power.
Commenting on this strategic milestone Khaldoun Tabari, CEO of DSI said: “Drake & Scull Construction (DSC) will enable Drake & Scull International (DSI) PJSC to cover the complete value chain of the construction industry in Qatar and will optimize our exposure to the residential, commercial, education, healthcare and infrastructure sectors.
“We aim to import our regional experience and acquired operational and technical expertise in turnkey execution of high rise towers, hotels and residential schemes, infrastructure works, construction management, inspection and quality control to complement our established MEP and Water and Power divisions.”
“We are well established in Qatar and we have executed a wide range of MEP projects across various industries Tabari added “Drake & Scull Qatar” (DSQ) the wholly owned subsidiary of Drake & Scull International (DSI) PJSC was established in 2006 and has undertaken a number of prestigious MEP projects in Qatar including the West Bay Complex “Four Seasons hotel” and the “QTEL headquarters” as well as a design and build contract for two district cooling plants for the Musheireb project developed by Doha Land,” Tabari added.
“We look forward to capitalize on our regional capabilities and expertise to leverage our market share in Qatar and further identify and explore lucrative opportunities in the, MEP, Civil and Water and Power sectors” Tabari said.
The managing director of Drake & Scull Construction said: “Qatar has been witnessing unprecedented economic growth in recent years, and several key factors such as its favourable investment climate, strong government support and winning the 2022 World Cup hosting rights have added impetus to the country’s ambitious growth plans.
“The construction summit provided a well-rounded perspective of the various opportunities in Qatar’s construction landscape, and DSI’s presentation mainly addressed the various challenges that contractors confront as they try to keep pace with the market demands and the rapidly changing construction industry dynamics.”
Since the beginning of 2011 DSI has managed to secure a series of MEP, Civil and Water & Power projects in several GCC countries, Egypt, Asia and Europe for a combined value of AED 3.6 billion.
The company has a backlog of AED 7.5 billion as of June 2011 and remains positive on its expectations for the second half of the year and is now bidding extensively for projects in the MENA and Asian regions through its MEP, Civil and Water & Power divisions and is also proactively seeking to develop its integrated service offering to diversify into various industry sectors in emerging markets.
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