Drake & Scull International (DSI) PJSC has been awarded a major Mechanical, Plumbing and Engineering (MEP) project worth AED 85 million for the Rotana Gardenia Hotel and Furnished Apartments in Homs, Syria.
The MEP project – which is the first contract win for DSI in Syria since establishing offices in the country earlier this year – will be developed by Gardenia Real Estate Investment, with the main contractor being SBG – Al Marasem.
According to CEO of DSI, Khaldoun Tabari: "We are extremely proud of our project win in Syria, a country boasting a promising market – one that offers many potentially lucrative opportunities, particularly in the construction industry."
He added: "DSI recognises Syria's potential which is why the company established an office in the country earlier this year, allowing us to begin operations immediately in order to maximise efficiency. Paying heed to DSI strategic vision for the region, we believe that Syria is entering a new phase in its economic development and we hope to contribute significantly to this."
According to media reports, Syria is a developing market that has seen major reforms in the past few years due to government initiatives opening up the economy to foreign investment. The country's private banks are said to be increasing financial flexibility for investors, leading to an increased number of multinational companies entering the market, boosting the country's tourism sector and contributing to a rise in the population.
Syria's Rotana Gardenia is a five-star hotel with a total built-up area of 84,000m², operated by the Rotana Group and situated in the North-Western section of Homs. The hotel features four basement floors, two floors of banquet halls, three floors of shopping malls, 289 hotel rooms on 26 floors, 16 floors of furnished apartments as well as several other facilities including a restaurant, business centre, swimming pool and health and fitness club.
Work on the project will begin immediately and is scheduled for completion in June 2012.
