Drake & Scull International (DSI) has reported a profitable performance for the nine-month period ending 30 September 2024, with a net profit of AED 3.79 billion, a significant improvement from net losses of AED 197.49 million in the previous year. The company has also entered into a strategic memorandum of understanding (MoU) with El Amar Group, aimed at leveraging the combined expertise of both organizations to drive growth in Egypt and Saudi Arabia.

The MoU outlines plans to explore a wide range of opportunities in engineering, procurement, and construction (EPC) projects. This includes a focus on contracting works, water treatment contracting, district cooling projects, and other mutually beneficial initiatives.

By joining forces, DSI and El Amar Group aim to unlock new business prospects in large-scale real estate development, infrastructure, and EPC sectors. The partnership is expected to generate cost efficiencies, improve operational outcomes, and produce high-quality projects, enhancing their competitive position in the market.

Furthermore, the collaboration underscores both companies’ shared commitment to sustainability and innovation, positioning them as leaders in their respective industries. The two organizations are set to strengthen their relationships with local authorities and businesses, particularly in Egypt and Saudi Arabia, where they will work closely to explore new ventures.

Muin El Saleh, CEO of DSI, emphasized the strategic importance of this partnership: “By aligning with El Amar Group, we are strategically positioned to drive greater value for our stakeholders and capitalize on emerging opportunities in the real estate and infrastructure sectors.”