{"id":58284,"date":"2017-06-18T23:36:00","date_gmt":"2017-06-18T16:36:00","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=58284"},"modified":"2017-06-18T23:00:31","modified_gmt":"2017-06-18T16:00:31","slug":"qatar-border-closures-have-had-no-impact-on-business-drake-scull-chief-says","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/qatar-border-closures-have-had-no-impact-on-business-drake-scull-chief-says\/","title":{"rendered":"Qatar border closures have had 'no impact' on business, Drake & Scull chief says"},"content":{"rendered":"


\nThe severing of air, land and sea links between Qatar and three Arabian Gulf countries have had “no impact” on Drake & Scull International’s operations in the country so far, its chief executive, Wael Allan said on Sunday.”We have projects there that are finishing. We don’t have anything in the pipeline that we are bidding for at this stage. So we are continuing to finish those projects as we moved forwards,” he said.
\nThe company has about Dh500 million worth of projects under way in Qatar, Bloomberg quoted Majd Dola, senior research analyst at Al Ramz Capital, as saying. The company has an overall backlog of Dh8 billion. The biggest portion of its work in Qatar is Dh342.9m contract for electrical works on depots being built for the Doha Metro, where it is working for Japan’s Fujita Corporation under a contract awarded in March 2016..
\nActing chief financial officer Firas Kalthoum added that the company has an entity that is based in Qatar to carry out its work. “We have not been informed to do or not to do anything in relation to Qatar,” he said. “We will be following any guidance that we receive, but we have not received any yet. It’s too premature at the moment.”In Saudi Arabia, Mr Allan confirmed the company would “categorically” not bid for any new general contracting work for its subsidiary GTCC. He said that its MEP arm has focused on completing existing work in the Kingdom and had not bid for any new work within the past year, but remains a part of a consortium that is considered a front-runner to build the new metro line in Mecca.
\nHe added that the firm would review its position on working in the Kingdom once the capital restructuring was complete and a new board of directors appointed.mfahy@thenational.aeFollow The National’s Business section on Twitter
\n
\nSource : thenational.ae
\nRead more…Qatar border closures have had ‘no impact’ on business, Drake & Scull chief says<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The severing of air, land and sea links between Qatar and three Arabian Gulf countries...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-58284","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-fa4","jetpack-related-posts":[{"id":8920,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubais-drake-scull-bags-dh343m-doha-metro-contract\/","url_meta":{"origin":58284,"position":0},"title":"Dubai's Drake & Scull bags Dh343m Doha Metro contract","date":"March 23, 2016","format":false,"excerpt":"\r \r Dubai's Drake & Scull has been awarded a 340 million Qatari riyal (Dh343m) contract on Qatar Rail's Doha Metro project relating to its depots.The contract was awarded by Japan's Fujita Corporation, whose consortium landed a contract in February 2015 to provide all of the metro's systems and rolling\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":51160,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/drake-scull-looks-to-finalise-dh600m-capital-raise-this-month-says-chief-executive\/","url_meta":{"origin":58284,"position":1},"title":"Drake & Scull looks to finalise Dh600m capital raise this month, says chief executive","date":"April 7, 2017","format":false,"excerpt":"\r Dubai-based contractor Drake & Scull International aims to fin\u00adalise by the end of this month a capital-raising exercise that will result in Dh600 million invested into the business.Wael Allan, the company's chief executive, told The National that alongside a binding offer from Tabarak Investment to inject Dh500m into the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":57520,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/former-drake-scull-chairman-sells-stake-at-dubai-contractor\/","url_meta":{"origin":58284,"position":2},"title":"Former Drake & Scull chairman sells stake at Dubai contractor","date":"June 12, 2017","format":false,"excerpt":"\r The former Drake & Scull chairman Khaldoun Tabari has sold his stake in the contractor Drake & Scull to the company pledging to put Dh500 million of new money into the business.Mr Tabari is understood to have completed a transaction to sell his remaining stake in the Dubai-based contractor\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":57616,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/former-drake-scull-vice-chairman-sells-stake-at-dubai-contractor\/","url_meta":{"origin":58284,"position":3},"title":"Former Drake & Scull vice-chairman sells stake at Dubai contractor","date":"June 12, 2017","format":false,"excerpt":"\r The former Drake & Scull vice-chairman Khaldoun Tabari has sold his stake in the contractor Drake & Scull to the company pledging to put Dh500 million of new money into the business.Mr Tabari is understood to have completed a transaction to sell his remaining stake in the Dubai-based contractor\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6348,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uae-bourses-down-as-traders-book-profits-qatar-index-up\/","url_meta":{"origin":58284,"position":4},"title":"UAE bourses down as traders book profits, Qatar index up","date":"February 29, 2016","format":false,"excerpt":"\r \r Stock markets in the United Arab Emirates edged down in early trade on Monday as investors booked profits in mid-cap stocks, while Qatar edged up, supported by Gulf International Services.Dubai's index edged down 0.3 per cent with 14 stocks falling and 12 rising. Drake and Scull, which has\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":159165,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/drake-and-scull-reports-1-77mn-net-profit-as-h1-revenue-up-57-to-21-2mn\/","url_meta":{"origin":58284,"position":5},"title":"Drake and Scull reports $1.77mn net profit as H1 revenue up 57% to $21.2mn","date":"August 13, 2025","format":false,"excerpt":"\r Strong performance in wastewater and water treatment projects across key markets, including India, Tunisia, Romania, and Jordan\r \r Source : arabianbusiness.com\r Read more...Drake and Scull reports .77mn net profit as H1 revenue up 57% to .2mn","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2025\/08\/drake-and-scull-logo-1000x667-1.jpg?fit=1000%2C667&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/58284"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=58284"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/58284\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=58284"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=58284"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=58284"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}