Drake & Scull Secures $14.4 Million Ritz-Carlton Residences Contract

Dubai (PlantAndEquipment.com) - Drake & Scull International has won a contract for AED52.8 million ($14.4 million) to provide mechanical, electrical, and plumbing (MEP) services for The Ritz-Carlton Residences in Dubai's Business Bay.

The high-end development, planned by the Khamas Group, will consist of 48 luxurious branded residences overlooking the Dubai Water Canal.

The project demonstrates that Dubai's construction industry is robust, with developers continuing to launch and build luxury residential, hotel, and mixed-use buildings despite strong investor demand and population expansion. The consistent pipeline of new projects has contributed to solid activity in the emirate's construction and engineering sectors.

The deal boosts Drake & Scull's project portfolio after its restructure in 2024. The firm has subsequently resumed growing, citing an 81% year-on-year increase in first-quarter net profit and a 152% increase in revenue, indicating a resurgence in project activity and execution.