Dubai – Mubasher: Drake and Scull International (DSI) on Monday announced that its general contracting subsidiary, Gulf Technical Construction Company (GTCC), has been negotiating AED 1 billion contracts with Wahat Al Zaweya in Al Ain.

GTCC was awarded an AED 250 million contract to develop the 336-unit villa complex Nasayem project in Wahat Al Zaweya, which will comprise 290 three-bedroom villas and 46 four-bedroom villas, DSI added in a statement.

The negotiations are still in progress with regard to AED 750 million contracts and are expected to be finalised by the first six months of 2018.

“The new Wahat Al Zaweya contract is a great start towards what we expect to be an invigorated fiscal year marked by steady recovery and further stability,” said Rabih Abou Diwan, Investor Relations Director at Drake & Scull International.

“We expect more of such positive developments in the coming months from GTCC and across all our divisions,” Abou Diwan concluded.