Depa secures hospitality projects worth approximately AED 157 million

Depa secures hospitality projects worth approximately AED 157 million

23rd Nov 2022

Depa PLC (“Depa”), the leading global interior solutions group, announces project awards worth approximately AED 157 million through Depa Interiors - Depa’s Middle East key business unit specialising in the provision of interior solutions to the hospitality, residential, commercial, and transport and civil infrastructure sectors.

Depa Interiors secured a AED120 million hospitality package within a development on a Red Sea island between Al-Wajh and Umluj in the Kingdom of Saudi Arabia. This is the third significant hospitality project awarded to Depa within this development.

Additionally, Depa Interiors has secured a mock-up package for another project on the Red Sea in Tabuk Province and a further mock-up package for a hospitality project in the City of Neom, both in the Kingdom and totalling approximately AED 37 million.

Kevin Lewis, Depa’s Group Chief Executive Officer, commented: “It is very pleasing to see Depa continue to increase activity in Saudi Arabia, securing its third large hospitality package on the Red Sea coast and a further mock-up package. The mock-up award in the Tabuk Province is significant for Depa and its potential to secure future projects as this region’s development progresses.”

For further information, please contact:

Depa PLC
Tel: + 971 4 821 6666

Kevin Lewis, Group Chief Executive Officer
Nader Mardini, Group Chief Financial Officer

For more information, please refer to the corporate website:

Notes to editors:

Depa is a strategic management company specialising in global interior solutions. Depa’s key business units hold leading positions in their respective markets: Vedder, Depa Interiors and the Deco Group. Employing thousands of people worldwide, the Group’s operations are centred on two regional hubs: Europe and the Middle East.

Depa’s mission, shared by each of its key business units, is to deliver sustainability, profitability and performance for its clients, shareholders and employees. The Group’s five core values are integral to everything Depa does: transparency, integrity, accountability, professionalism and exceptional service.

Depa PLC is listed on the Nasdaq Dubai (DEPA: DU) and is headquartered in Dubai, United Arab Emirates.

Cautionary statement:

This document may contain certain 'forward looking statements' with respect to Depa's financial condition, results of operations and business and certain of Depa's plans and objectives with respect to these items. By their very nature, forward looking statements are inherently unpredictable, speculative and involve risk and uncertainty because they relate to events, and depend on circumstances, which may occur in the future. There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements. All written or verbal forward looking statements, whether made in this document or made subsequently, which are attributable to Depa or any other member of the Group or persons acting on their behalf are expressly qualified on this basis. Depa does not intend to update any such forward looking statements.