Drake & Scull International (DSI) has secured a contract worth US $14.4mn for mechanical, electrical, and plumbing (MEP) services for The Ritz-Carlton Residences in Business Bay.
The contract has been awarded by the Khamas Group of Investment companies, a UAE-based real estate developer. The Ritz-Carlton Residences, Dubai is a 48-key project located along the Dubai Water Canal.
DSI said it has secured several significant projects since the company underwent a major restructuring in 2024. This restructuring included a plan to increase capital by up to $163.35mn.
In May, the company reported a 81% year-on-year increase in Q1 profit, reaching $1.20mn. Additionally, revenues surged to $20.87mn, marking 152% year-on-year growth.
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