Depa wins $27.2m contract for Saudi hospitality project
DUBAI, February 3, 2022
UAE-based Depa, a strategic management company specialising in global interior solutions, has announced that one of its units has secured a contract worth AED100 million ($27.2 million) for a hospitality package within a giga project in Saudi Arabia.
The contract for the project has been clinched by Depa Interiors, a key regional business unit of the fitout group that specialises in the provision of interior solutions to the hospitality, residential, commercial, and transport and civil infrastructure sectors, said Depa in its filing to the Nasdaq Dubai.
Headquartered in Dubai, Depa is a strategic management company specialising in global interior solutions.
In addition to Depa Interiors, its key business units that hold leading positions in their respective markets include Vedder - a Europe-based yacht interior contracting unit - and Deco, its interior contracting and furniture manufacturing unit.
Employing thousands of people worldwide, the group’s operations are centred on two regional hubs: Europe and the Middle East.
The UAE interior solutions company said its key unit Deco had recently landed a number of luxury retail store fit-out works in Riyadh and Jeddah worth AED20 million.
On the contract win, Depa CEO Kevin Lewis said this was the second large-scale hospitality project secured by the firm in the kingdom in recent weeks.
"With Deco also increasing focus on this market, we are looking forward to continued growth in the Saudi Arabia," he added.-TradeArabia News Service
