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FINANCIAL NEWS
Drake & Scull postpones project in Syria
25 May 2011
(MENAFN) Drake & Scull’s (DSI) chief executive, Khaldoun Tabari, said that the company postponed its USD137 million hotel project in Homs, Syria due to the political upheaval in the country, reported The National.
Tabari added that at the meantime, the company stopped its operations in the project that would include a 42 storey complex with 285 hotel rooms, 16 floors of furnished apartments and a three storey shopping mall, adding that it didn’t decide what to do yet.
He also said that two weeks ago, Drake & Scull postponed mechanical, electrical and plumbing work on its first project in the country, the Rotana Gardenia Hotel, and relocated non-Syrian personnel.
It is worth noting that earlier this year, DSI established an office in Syria for the country’s potential which will allow the company to begin operations immediately in order to increase efficiency.
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