Depa confirms AED719m contract value, H1 2015
Depa Limited, the global interior contracting company based in Dubai, signed contracts worth more than AED 719 million in the first half of 2015.
Nadim Akhras, Group CEO, Depa , said: “Depa has started 2015 with confidence, securing more than AED 700 million of new work across an array of prestigious new projects. Significantly, Depa Interiors secured its first ever contract in Bangladesh and Design Studio tapped into the US market once again, as our international expansion strategy continues to gain traction.
The signings including projects worth AED 275 million in Q1, as Depa cemented its position in core markets by winning the Madinat Jumeirah Extension and Dubai Opera, while expanding into new international territories (see list below).
“The strength of our order book, in what continues to be a challenging market, is testament to Depa ‘s reputation for delivering high quality results within required timeframes and budgets.”
Akhras added: “These new deals, especially the Dubai Opera and the Madinat Jumeirah, have given us a solid platform on which we will continue our strategy to build a balanced portfolio through geographical diversification whilst maintaining the highest standards of quality within the industry in our core home markets.”
Depa Interiors – AED 87 million, including landmark projects such as Emaar’s Dubai Opera in Downtown, the Madinat Jumeirah Extension and FF&E packages for the new Nikki Beach Resort, developed by Meraas.
Depa Albarakah – AED 16 million contract agreed for supply and installation of dry wall partition works at IMG’s Theme Park site.
Deco Emirates – AED 77 million worth of contracts during the period with companies including Christian Dior, Louis Vuitton, Hermes, D&G, Michael Kors and a confidential blue-chip client for their office and a state of the art retail space in Mall of the Emirates.
Design Studio Group (Design Studio) – undisclosed sum to supply kitchen and vanity cabinets to 626 First Avenue, a 756-unit luxury residential development along New York City’s East River. Additional projects in Asia, include: first is a contract for the alteration and addition of works at the 476-room Swissotel Merchant Court Singapore; the second for interior design and fit-out work at the 150-room W Hotel Kuala Lumpur; and the third for interior design work for 220-rooms at the Ascott by Cairnhill hotel. In total, Design Studio signed projects worth AED 126 million in the first few months of 2015.
Depa Interiors – AED 81m first ever contract in Bangladesh for refurbishment of the public areas and 226 rooms of the famous InterContinental Hotel, Dhaka, the first international five star hotel in the country, opened in 1966.