Jul 09 2008 |
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Depa secures 8 new hotels and a private palace in the UAE Value of orders total over AED 800m
Dubai, 9 July 2008 - Depa Limited (ticker DEPA) (" DEPA " or "the Company"), the world's largest interior contractor, today announces that it has secured orders for the complete fit out works for eight prestigious new five and four star hotels across the UAE as well as a private palace located in Dubai. The value of these orders amount to over AED 800 million and are all due to be completed by December 2009.
These orders include the complete fit-out works for five of the seven hotels located on Yas Island, Abu Dhabi. The island is the site of a $40 billion development project by Aldar Properties . Aldar Properties awarded earlier this year Parker International the consultancy contract for the complete supply of the Furniture, Fixtures & Equipment (FF&E) for the 7 hotels. Depa owns a 51% stake in Parker International.
Depa will also be carrying out the fit out works for the Millennium Hotel in Abu Dhabi which is owned by Al Wehdah Club. Depa has also been awarded the complete fit-out works for the new hotel in the Mall of the Emirates by Majid Al Futtaim and the Centro Rotana hotel in Sharjah Airport owned by Air Arabia .
Whilst Depa won several of these orders through a bidding process, the other part of these orders were won through negotiations which further evidence the quality of work the Company delivers.
Depa has recently won "Best Interior Contracting Company" by Arabian Property, part of the ITP Publication Group Depa listed their shares on the Dubai International Financial Exchange on 23 April 2008.
-Ends-
For further media inquiries, please contact:
Depa
Limited
Hania Al-Lahham
Public Relations Manager
Tel: +971 4 224 3800
hania.allahham@depa.com
Brunswick Gulf Ltd
Azadeh Varzi
avarzi@brunswickgroup.com
Tel: + 971 4 365 8260
© Press Release 2008
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