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Drake & Scull says Reem Mall project to positively impact financial position

2018-12-09 11:34:11 GMT (Economies.com)
 

Engineering and construction services company Drake & Scull International (DSI) on Sunday said revenues from Reem Mall project will be added to the company’s 22-month work program.

Profits will be reflected at the end of the project, said the company, adding that the project will have a positive impact on its financial and market position.

Earlier this month, DSI announced it has won an AED600 million contract to provide mechanical, electrical and plumbing (MEP) services for the Reem Mall, under a joint-venture agreement with the project’s lead contractor Itinera-Ghantoot.

 

The project is being developed by Al Farwaniya Property Developments, a partnership between Agility, its affiliate United Projects for Aviation Services Company (UPAC), and the National Real Estate Company (NREC).

 

DSI earlier logged AED 565.1 million net loss for the third quarter of 2018, up from AED 358.9 million net loss in prior-year period. It also posted AED 747.9 million net loss for the first nine months of 2018, from AED 1.396 billion loss in the corresponding period of 2017.

 
 
 
  Symbol Last Change Chg.%
1.0744
0.0092
0.8599%
1.2624
0.0062
0.4919%
22.117
0.205
0.936%
113.829
3.690
3.350%
117.00
-0.29
0.25%
1853.650
-2.785
0.150%
 
 
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