Drake & Scull International (DSI) and Prestige One Developments have announced the start of construction on the Majan Project in Dubai, marking a shift from design to active building. This collaboration combines DSI's construction expertise with Prestige One's design philosophy to meet the demand for high-quality real estate in Dubai. After a year of preparation and securing necessary approvals, the project is underway, with completion expected in early 2028. The development aims to cater to the needs of modern businesses and residents, enhancing Dubai's growing landscape. DSI's Group CEO, Muin El Saleh, emphasized the company's focus on precision and high standards, while Prestige One's CEO, Ajmal Saifi, highlighted the partnership's potential to create a standout asset in the Majan district.

The CEO of Dubai Financial Market, Mr. Hamed Ahmed Ali, has been invited to attend the Annual General Assembly Meeting of Drake & Scull International PJSC. The company announced the meeting in two local newspapers on March 26, 2026. The invitation details are attached. The letter is signed by Dana Abualghanam, the Board Secretary.

Drake & Scull International PJSC (DSI) reported a net profit of AED 47 million for 2025, transitioning from restructuring to operational recovery. The company's revenue increased by 116% year-on-year to AED 223.8 million. Total assets decreased by 6% to AED 610.8 million, while total equity rose by 29% to AED 195.4 million. Cash and bank balances stood at AED 235 million, aiding operational flexibility. The revenue growth was driven by project execution in core markets and conversion of the order book into revenue, with significant progress in infrastructure and water projects. The year marked DSI's first full year of normalized profitability post-restructuring, with improved gross profit due to cost management and efficiency gains. Asset optimization and a stronger equity position contributed to financial resilience and sustainable growth.

The preliminary financial results for 2025 show a significant improvement in the company's operational and financial performance, with revenues rising to AED 223.8 million from AED 103.7 million in 2024, marking over 100% growth. The group also reported a consolidated net profit of AED 47 million, leading to an increase in total group equity from AED 151.8 million to AED 195.4 million, indicating ongoing recovery and stabilization. A recent media report inaccurately stated that the company recorded losses of AED 75.6 million. The company clarified that this figure represents the net loss attributable to equity holders of the parent company after accounting for subsidiary results based on ownership interests. This amount includes certain provisions and adjustments in line with IFRS and excludes non-controlling interests, which amounted to AED 122.7 million. The company emphasized that focusing solely on this figure, without considering the consolidated net profit, does not accurately reflect the group's overall financial performance. This clarification aims to ensure an accurate presentation of the company's financial results.