Drake wins $113m Louvre Abu Dhabi contract
Dubai, September 2, 2013
The contract was awarded by Asolouvre JV, the Arabtec Construction -led joint venture with Constructora San Jose SA and Oger Abu Dhabi that has been appointed by master developer Abu Dhabi Tourism Development and Investment Company (TDIC) to be the main contractor of the project.
The scope of work for this contract will be executed in coordination with Habtoor Leighton Specon and includes all incidentals MEP works on the project scheduled to be completed in the fourth quarter of 2015.
Louvre Abu Dhabi is located in the Saadiyat Cultural District and is scheduled to be inaugurated in 2015. Asolouvre JV was awarded the Dh2.4 billion contract by TDIC in January 2013 to construct the landmark museum.
With a built up area of 64,000 sq m, Louvre Abu Dhabi is conceived as a complex of pavilions, plazas, alleyways and canals, evoking the image of a city floating on the sea. Hovering over the complex will be a form inspired by traditional Arabic architecture, a vast shallow dome of around 180 metres in diameter perforated with interlaced patterns so that a magical, diffused light will filter through.
Commenting on the award, Khaldoun Tabari, CEO of Drake & Scull International, said: “The Louvre Museum Abu Dhabi is the most anticipated and prestigious cultural development project in the region. It will be a showcase of artistic mastery and world-class engineering that underlines the vision of Abu Dhabi to be a leading global cultural hub. We thank the Arabtec led joint venture for choosing DSI to execute this iconic project and we are confident that our partnership will bring exceptional value and solid engineering expertise to the international Joint Venture of this prestigious development. ”
DSI achieved total revenues of Dh2.567 billion and total net profit of Dh114.9 million for the first half of 2013. The financial results reflect growth in revenues and net profit by 71.8 per cent and 53.9 per cent respectively, compared by the first half of 2012. Total project awards year to date reached Dh5.9 billion in Saudi Arabia, UAE, Qatar, Jordan and India, the company said.
The order backlog reached a record high closing at Dh11.7 billion as of June 30, representing a 58.1 per cent growth compared to Dh7.4 billion recorded during the same period last year, it said.