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Drake & Scull Construction (DSC) has won a US$54.5 million contract for the construction of the Binary commercial tower in Dubai’s Business Bay
The contract has been valued at $54.5 million and the scope of work will include all associated construction works to complete the tower, said the company in a statement.
Drake and Scull Construction managing director, Saleh Muradweij, said, “We have already mobilised on site and commenced work with an estimated completion date in early 2014.”
The project will be developed by Omniyat and will comprise of a 25-story commercial tower on the waterfront in Dubai’s Business Bay area.
Over the past few months DSC has secured a number of projects around the region with the Dubai-based company stating that it has been awarded $354 million worth of contracts during the first quarter of 2012.
“The Binary agreement reflects our successful and continuous growth in this line of business and gives us cautious optimism about the construction industry outlook in the UAE,” added Muradweij.