FINANCIAL NEWS

Dubai’s Drake signs USD107.55m joint venture deal

15 Mar 2015

(MENAFN) Dubai’s Drake & Scull signed a USD107.55 million joint venture with Habtoor Leighton Specon to provide mechanical, electrical and plumbing services for part of the USD1.1 billion Jewel of the Creek project, Arabian Business reported.

Habtoor Leighton Specon (HLS) said it was nominated by Dubai International Real Estate (DIRE) as the MEP contractor of package 8 of the mixed-use project.

Package 8 consists of five hospitality buildings ranging between 15 and 19 floors, featuring a hotel and serviced apartments buildings, a ballroom and an attached caf”, and a marina.

The new joint venture will work under the main contractor of the project, the Habtoor Leighton Group, to deliver the MEP works of the package, the statement added.

“The Jewel of the Creek project is of great significance to HLS and the wider Habtoor Leighton Group. We are honoured to have been selected as DIRE’s MEP contractor of choice,” the CEO and managing director of Habtoor Leighton Specon said in a statement.

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