Depa secures major Abu Dhabi Government interior fit-out project for AED 574 millionSep 25 ,2013
Abu Dhabi, UAE; 25 September 2013: Depa Limited, one of the world’s leading interior contracting companies, has secured an AED 574 million fit-out contract for a major government project in Abu Dhabi.
The full scope of work includes the installation of structural steel and architectural woodwork, flooring and carpeting through to decorative supplements, wall coverings and interior lighting fixtures covering a 28,000 sq/m area. The project is due for completion in 2015.
Hasan Abdullah Ismaik, Chairman of Depa Limited, said: “We are delighted to have been selected to work on such a significant project, set to become one of Abu Dhabi’s most iconic landmarks. As one of the world’s leading interior contractors, our experience of working on some of the largest and most prestigious buildings in the MENA region and beyond will help us deliver a world-class finish for this important building and will further confirm our standing as a thought-after partner providing comprehensive and customized interior contracting solutions for prestigious clients around the globe."
Depa has a strong track record of engaging in major projects in Abu Dhabi and is currently onsite working on contracts including the Cleveland Clinic, Al Forsan Sport Hotel and the Regent Emirates Pearl.
The new contract award follows closely Depa’s acquisition of the assets of German-based LOHER Raumexklusiv GmbH’s (‘LOHER’) luxury interiors business, through its wholly-owned German subsidiary, Vedder. The acquisition, announced last August, makes Depa one of the largest yacht interior fit-out specialists in the world, further consolidating its already strong market share with AED235 million contract wins at hand.
Earlier in April, Depa won two new projects and one contract variation in Saudi Arabia for a combined value of over AED 250 million [US$ 70 million]. That brought the total value of contracts from Saudi Arabia alone above the AED 1 billion mark. The Company expects to win more contracts from the Saudi market, taking advantage of the recent surge in the country’s construction industry with projects worth up to $613 billion expected to be completed in the next 5 years.
Depa has steadily grown and expanded throughout Europe, Africa, Asia, and the Middle East. Over the years, it has managed to build up an association with international suppliers and manufacturers, in addition to utilizing Depa’s own in-house manufacturing facilities. Depa's superior portfolio of projects illustrates superb skills in combining aesthetic and operational requirements to create the harmonious and complete results for clients.
Ismaik added: “Our focus on delivering excellence to our clients in a cost-effective and timely manner has made us the largest and most profitable interior contractor and specialist fit-out company in the Middle East and North Africa region, and among the top five in the world.”
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ABOUT DEPA LIMITED
Depa Limited is a leading interior contracting company in the Middle East, North Africa and Southeast Asia regions. Operating principally in the luxury fit-out industry, its main areas of business cover luxury hotels, infrastructure and public sector amenities such as hospitals and airports, high-end residential properties, retail outlets, as well as yachts. Depa is listed on the NASDAQ Dubai (ticker DEPA) and has Global Depositary Receipts on the regulated market for listed securities of the London Stock Exchange plc (ticker DEPA and DEPS).
The range of business activities performed by Depa comprises:
� Interior contracting: which focuses on luxury interior fit-out services, which include installation and finishing of floors, walls, ceilings, fixed joinery, panelling, wood-works, doors and frames;
� Manufacturing: which comprises a network of factories and joineries which produce customized furniture, fixtures and equipment (FF&E);
� Procurement: which involves the procurement of supplies and materials from third parties to support and complement Depa's interior contracting and manufacturing operations as well as third party procurement contracts for specific FF&E projects.
By integrating these services into a single package, Depa provides clients with comprehensive and customized interior contracting solutions.
With more than 8,000 employees worldwide, the company operates through an integrated network of subsidiaries, affiliates and representative offices located in the UAE, Saudi Arabia, Qatar, Egypt, Jordan, Syria, Libya, Morocco, India, Malaysia, Thailand, China, Singapore, UK, the Netherlands, and the United States. Through this network, Depa has successfully executed large and complex projects in over 20 countries including the Emirates Palace Hotel (Abu Dhabi), Four Seasons Hotel (India), Grand Hyatt (Malaysia), Trump International Hotel (Las Vegas), Tokyo Midtown (Japan), Museum of Islamic Arts (Qatar), Baku Flame (Azerbaijan) and Marina Bay Sands (Singapore).
For more information, please refer to the corporate website: www.depa.com