
Drake & Scull International P.J.S.C
Pressreleases, Reports and Disclosures for Drake & Scull International P.J.S.C
Drake & Scull International PJSC (DSI) has been awarded a construction contract worth AED127.8 million for the Berkeley Square residential development by Prestige One Developments in Jumeirah Village Circle, Dubai. This project is part of a strategic collaboration between DSI and Prestige One announced earlier this year. The contract reflects confidence in DSI's capabilities and aligns with its strategy to pursue high-quality projects. Berkeley Square will consist of a basement, ground floor, and five upper floors, with DSI responsible for the complete construction. Work is set to begin once contracts are finalized.
Drake & Scull International PJSC (DSI) has been awarded a contract worth AED 52.8 million by Khamas Group of Investment Companies to complete the Mechanical, Electrical, and Plumbing (MEP) works for The Ritz-Carlton Residences in Business Bay, Dubai. This project, located along the Dubai Water Canal, includes 48 luxury residences and aims to deliver a high-quality residential experience associated with The Ritz-Carlton brand. The contract enhances DSI's project backlog and aligns with Khamas Group's strategy to involve specialized contractors to ensure the project's quality and timely completion. Work on the project will begin after completing contractual and mobilization requirements.
On November 24, 2025, the Board of Directors of Drake & Scull International PJSC passed resolutions by circulation. They appointed Mr. Khaled Owaidat as a Board Member to replace Mr. Ahmad Al-Kilani for the remainder of his term, subject to ratification by the General Assembly at the next meeting. Additionally, the Board reconstituted the Audit Committee with members Mr. Khaled Oweidat, Mrs. Mia ZEČEVIĆ, and Mr. Mustafa Saifuddin.
Drake & Scull International PJSC (DSI) reported a net profit of AED 11 million for the third quarter of 2025, marking a significant turnaround from a net operating loss of AED 46.1 million in the same period last year. Revenue increased by 92% year-on-year to AED 134.9 million, supported by progress on key projects like the Arabian Hills project and the Bidkin project in India. The company also saw a 124.5% increase in gross profit compared to the previous year. Total assets decreased by 1.9% to AED 629.5 million, while total equity rose by 3.2% to AED 156.6 million. Cash and bank balances stood at AED 266.5 million, providing operational flexibility. DSI launched DSI Real Estate Development to drive new ventures, starting with the Majan plot project in Dubai, as part of its strategy to diversify and expand into real estate development.