Depa snaps up $259m Saudi Arabia, UAE fitout orders
RIYADH, January 16, 2024
Depa, a leading interior solutions group, has announced that it had won orders worth AED950 million ($258 million) from the top regional markets of Saudi Arabia and UAE. The project scope includes Red Sea Global project fitout works as well as a high-end HQ building in Dubai.
Announcing the big wins, Depa said it had secured orders worth AED750 million from Saudi Arabia with the lion's share coming from Red Sea Global (RSG), the developer behind two of the world's most ambitious regenerative tourism destinations, The Red Sea and Amaala - in the kingdom.
The project scope includes fit-out works for Desert Rock Hotel, a luxury 50-villas and 10-hotel rooms resort set in a hidden valley and nestled between the mountains of Saudi Arabia as well as that for the Amaala Yacht Club - envisaged to be one of the world’s premier yachting destinations.
On completion, the Amaala Yacht Club will be the stunning centrepiece of the Triple Bay marina development at Amaala, Kingdom of Saudi Arabia.
Group CEO Haitham Tuqan said: "This marks the seventh significant hospitality project awarded by RSG to Depa interiors – a subsidiary of Depa – this year, and a testament to the firm's continued commitment to upporting RSG in delivering world-class projects."
Depa also snapped up a interior works order for two luxury 5-star hotels within Amaala development, he stated.
On its key UAE order, Tuqan said the scope of work involves providing fit-out services for a high-end luxurious headquarters office building in Dubai.
"This new win adds to Depa’s impressive portfolio and reaffirms its position as a fit-out leader in the region. It is not only in line with our new Board's strategy of building a healthy backlog but also demonstrates our commitment to selecting projects based on rigorous criteria. It's a clear indicator of Depa's strong market position and our dedication to our stakeholders," he added.-TradeArabia News Service
