Company Insights Drake & Scull International Construction Drake & Scull International Overview Drake & Scull International (DSI) is a construction and engineering company. It was founded in the UK in the late 1880s and involved in large-scale infrastructure projects including the Severn Suspension bridge connecting England and Wales and the Harbour City Project in Hong Kong. DSI opened its first international office in Abu Dhabi in 1966, working on the King Hussein Medical City project in Jordan and the Intercontinental Hotel in Saudi Arabia. In the 1990s it relocated its entire operations from the UK to the Middle East market. DSI has worked on projects including Emirates Golf Club, Jumeirah Beach Residences, Jumeirah Beach Hotel, Dubai Internet City, King Abdullah University of Science and Technology (KAUST), Iraq’s Zubair oil field development and the Louvre Abu Dhabi. The company has offices in Dubai, Abu Dhabi, Kuwait, Egypt, Jordan, Algeria and India. It also manages projects in Europe and other parts of North Africa. Subsidiaries include Drake & Scull Engineering (DSE), Drake & Scull Oil & Gas (DSOG) and Passavant Energy & Environment (PE&E). In 2008 DSI offered 55% of its shares in an IPO that was more than 100-times oversubscribed. However in 2018 the company disclosed losses exceeding 75 percent of its capital and it was suspended from trading. Shares resumed trading in May 2024. Drake & Scull International News Finance Drake & Scull opens nominations for new board Dubai contractor Drake & Scull International (DSI) has opened nominations for new board members, after the completion of a lengthy restructuring process. DSI is looking to fill seven positions, according to a filing to Dubai Financial Market (DFM), with nominations open until July 11. Earlier this week the board of directors tendered their resignations in […] June 27, 2024 Finance Drake & Scull wins $10m appeal in Dubai court Drake & Scull International (DSI) has won an appeal to receive compensation worth AED36.7 million ($9.99 million) from a major company in Dubai. The compensation includes bank guarantees, the Dubai Financial Market-listed construction company said on Thursday. In addition, it will receive fees, interest and expenses in the case as per the judgement by Dubai […] June 7, 2024 Markets Drake & Scull International shares up by 24% as trading resumes Shares in Drake & Scull International rose by 24 percent on Wednesday as the troubled contractor resumed trading on Dubai Financial Market following a six-year suspension. DSI stock ended Wednesday at AED0.31, having started the day at AED0.25 – the price at which it sold AED450 million ($123 million) of shares earlier this month as […] May 29, 2024 Construction DSI claims bumper revenues to come before it resumes trading Dubai’s Drake & Scull International is forecasting a more than tenfold increase in revenues between this year and the end of 2029 as the troubled contractor prepares to return to trading on Dubai Financial Market. Trading in the utilities and infrastructure engineering company’s shares came to a halt in November 2018 when DSI disclosed losses […] May 28, 2024 Construction Drake & Scull losses narrow before return to trading Dubai contractor Drake & Scull International has trimmed its losses in the first quarter of this year as it nears the end of a drawn-out capital restructuring process. The Dubai-based utilities and infrastructure engineering company said in a press release accompanying disclosures to the Dubai Financial Market (DFM) that revenue jumped 55 percent year on […] May 9, 2024 Infrastructure Drake & Scull unit to oversee $210m Saudi water project A subsidiary of Dubai’s Drake & Scull International is to design and build an expanded wastewater treatment plant in Saudi Arabia’s eastern province. Passavant Energy and Environment Limited, which specialises in wastewater and water treatment technologies, was awarded the project in collaboration with a major contracting company in the kingdom. The name of the partner […] May 1, 2024 Posts navigation
Finance Drake & Scull opens nominations for new board Dubai contractor Drake & Scull International (DSI) has opened nominations for new board members, after the completion of a lengthy restructuring process. DSI is looking to fill seven positions, according to a filing to Dubai Financial Market (DFM), with nominations open until July 11. Earlier this week the board of directors tendered their resignations in […] June 27, 2024
Finance Drake & Scull wins $10m appeal in Dubai court Drake & Scull International (DSI) has won an appeal to receive compensation worth AED36.7 million ($9.99 million) from a major company in Dubai. The compensation includes bank guarantees, the Dubai Financial Market-listed construction company said on Thursday. In addition, it will receive fees, interest and expenses in the case as per the judgement by Dubai […] June 7, 2024
Markets Drake & Scull International shares up by 24% as trading resumes Shares in Drake & Scull International rose by 24 percent on Wednesday as the troubled contractor resumed trading on Dubai Financial Market following a six-year suspension. DSI stock ended Wednesday at AED0.31, having started the day at AED0.25 – the price at which it sold AED450 million ($123 million) of shares earlier this month as […] May 29, 2024
Construction DSI claims bumper revenues to come before it resumes trading Dubai’s Drake & Scull International is forecasting a more than tenfold increase in revenues between this year and the end of 2029 as the troubled contractor prepares to return to trading on Dubai Financial Market. Trading in the utilities and infrastructure engineering company’s shares came to a halt in November 2018 when DSI disclosed losses […] May 28, 2024
Construction Drake & Scull losses narrow before return to trading Dubai contractor Drake & Scull International has trimmed its losses in the first quarter of this year as it nears the end of a drawn-out capital restructuring process. The Dubai-based utilities and infrastructure engineering company said in a press release accompanying disclosures to the Dubai Financial Market (DFM) that revenue jumped 55 percent year on […] May 9, 2024
Infrastructure Drake & Scull unit to oversee $210m Saudi water project A subsidiary of Dubai’s Drake & Scull International is to design and build an expanded wastewater treatment plant in Saudi Arabia’s eastern province. Passavant Energy and Environment Limited, which specialises in wastewater and water treatment technologies, was awarded the project in collaboration with a major contracting company in the kingdom. The name of the partner […] May 1, 2024
