Investor and Media Centre

Depa Q1 2009 Contracted Backlog Update

May 26 ,2009
Depa Limited (ticker DEPA) (‘Depa’ or ‘the Company’), one of the world’s leading interior contracting companies, today issues a breakdown of the core constituents making up its strong contracted backlog. The Company recently confirmed that it has a backlog of approximately AED 3.2 billion as of 31 March 2009, constituting 154 projects. Depa plans to issue this breakdown on a quarterly basis.

 

Depa’s largest 31 projects, listed below, constitute 80 percent of the Company’s current backlog and show a diversified list of projects by geography and type. In line with its strategy, Depa continues to reduce dependence on both the Dubai market as well as the hospitality sector, the latter by increasingly focusing on refurbishment and infrastructure projects, which are counter-cyclical in a downturn.

 

 

Project Name

Value as of 31/3/09 (AED millions)

Location

Dubai Metro - Red Line

310

Dubai  

Mazagan Villas

173

Morocco  

Marina Bay Sands Tower 1

151

Singapore  

Palazzo Versace

135

Dubai  

Burj Dubai

130

Dubai  

Sentosa Island Resort

112

Singapore  

City Center-Doha, Contract 1

110

 Doha

Mazagan Resort

110

Morocco  

Crown Plaza & Stay Bridge Hotels

105

Abu Dhabi  

Al Wahda Sport City - Fit Out

95

Abu Dhabi  

Marina Hotel

90

Abu Dhabi  

Arcapita

81

 Bahrain

East Hotel - Mall of the Emirates

75

Dubai  

Al Meydan Development

71

Dubai  

Rotana & Centro Hotels

63

Abu Dhabi  

Private yacht

61

Germany  

Private residence

58

Morocco  

Private Yacht

49

Germany  

Centro Hotel

47

Sharjah

Kempinski Nile Hotel

45

Egypt  

Marina Bay Sands - Package 2

44

Singapore  

Al Wahda Sport City - FF&E

44

Abu Dhabi  

Burj Dubai Medical Center

42

Dubai  

Materials Supply

40

India  

Entertainment Venue

32

Abu Dhabi  

Private Yacht

30

Germany  

Centro Hotel Barsha

30

Dubai  

Ministery of Defense and Aviation

29

Saudi Arabia  

MBS VIP Suites

29

Singapore  

Crown Plaza

27

Saudi Arabia  

City Center-Doha, Contract 2

26

Qatar  

 TOTAL

2,444

 

 

The remaining 20 percent of Depa’s backlog consists of 123 projects with an average value of AED 6 million, varying between AED 1 million and AED 25 million.

 

Depa’s backlog consists entirely of projects that are already at the advanced construction stage.   Being at the end of the development chain, Depa typically moves on site to finish the building for occupation and hence, at a stage where the project is extremely unlikely to be cancelled, such as Burj Dubai. Payments from clients have not deteriorated and remain in line with historical practices.

 

CONTACT US

Depa Group, Vision Tower,
35th Floor, P.O. Box 56338,
Dubai, U.A.E.
T: +9714-446-2100
F: +9714-446-2102
info@depa.com

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