DSI awarded multi-million contract in Jeddah, shares advance

19/03/2012 19:38 AST  AME Info

Trading in a range between 1,640 -1,680 during the session on Monday, the Dubai Financial Market (DFM) General Index eventually ended half a percent higher at 1,668 points. Emaar fell 0.33% to Dh3.05. Real estate maintenance specialist Drake and Scull International or DSI surged one percent to reach Dhs1.02. Earlier in the day, DSI announced it has recently been awarded a Dhs135m ($36.8m) contract to provide turnkey MEP solutions to a project in Jeddah, Saudi Arabia, - the Assila Towers, which consists of a 5-star hotel and serviced apartments operated by Rocco Forte Hotels (RFH). The project is expected to be completed in 2013. Eighteen shares advanced, while 11 declined. Some 271.31m stocks were traded, valued at Dhs330m.

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