The contractor established its first office in Abu Dhabi in 1966
Drake & Scull International (DSI) has shifted to a new headquarters based in the International Media Production Zone (IMPZ) in Dubai.
The Dubai Financial Market-listed contractor inaugurated the new office on November 8, with the ribbon cutting ceremony performed by Malek Al Malek, CEO of TECOM Business Parks along with Khaldoun Tabari, CEO and vice-chairman at DSI.
DSI established its first office in Abu Dhabi in 1966. It has since expanded operations and opened offices in Dubai, Kuwait, Oman, Saudi Arabia, Qatar, Jordan, Iraq and Algeria. The firm also operates in India and Thailand and manages projects in Europe and North Africa.
In August this year, the Dubai-listed contractor reported total revenues of $650.7 million (AED2.39bn) and a net profit of $9.25 million (AED34m) for the first half.
DSI’s operating profit for H1 2015 was $15.8 million (AED58m), down by 27% compared to the same period in 2014. The firm attributed the decline in operating margins to delays and cost overruns on projects.