Depa signs AED45m contract to furnish the El Nile Hotel Kempinski in EgyptMar 4 ,2009
"Dubai, March 4 2009 – Depa Limited (“Depa”, ticker DEPA), one of the world’s largest interior contractors, announced today that it has won a $12.5million (AED45 million) contract for the Furniture, Fixtures & Equipment (‘FF&E’) of the El Nile Hotel Kempinski in Garden City, Cairo, Egypt. Depa was awarded this project by El Nile Company for Hotels and it is due for completion by September 2009.
Mohannad Sweid, CEO of Depa, said “This contract win further strengthens Depa’s position in Egypt and is part of our strategy of geographical diversification. Our vast experience in delivering the highest level of quality and service to our clients around the world, has earned us a reputation as a company which will provide results, enabling us to win the most prestigious contracts.”
The El Nile Hotel Kempinski is located in the heart of Cairo near the city’s major tourist attractions. Depa’s scope of work includes the FF&E work for all of the 220 guest rooms and public areas as well as a health club and spa.
Depa has been operating in Egypt since 1999 and is already firmly established in the Egyptian market, having worked on numerous prestigious hotels including the Four Seasons in Cairo, Sharm El Sheikh and Alexandria as well as the Fairmont in Cairo.
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About Depa Limited
Depa Limited is a leading interior contracting company in the Middle East, North Africa and Southeast Asia regions. Operating principally in the luxury fit-out industry, its main areas of business cover 5 star hotels, high-end residential properties, retail outlets, yachts, as well as public sector amenities such as hospitals and airports. Depa is listed on the NASDAQ Dubai (ticker DEPA) and has Global Depositary Receipts on the regulated market for listed securities of the London Stock Exchange plc (ticker DEPA and DEPS).
The range of business activities performed by Depa comprises:
· Interior contracting: which focuses on luxury interior fit-out services, which include installation and finishing of floors, walls, ceilings, fixed joinery, panelling, wood-works, doors and frames;
· Manufacturing: which comprises a network of factories and joineries which produce customized furniture, fixtures and equipment (FF&E);
· Procurement: which involves the procurement of supplies and materials from third parties to support and complement Depa's interior contracting and manufacturing operations as well as third party procurement contracts for specific FF&E projects.
By integrating these services into a single package, Depa provides clients with comprehensive and customized interior contracting solutions.
With more than 8,000 employees worldwide, the company operates through an integrated network of subsidiaries, affiliates and representative offices located in the UAE, Saudi Arabia, Qatar, Egypt, Jordan, Syria, Libya, Morocco, India, Malaysia, Thailand, China, Singapore, UK, the Netherlands, and the United States. Through this network, Depa has successfully executed large and complex projects in over 16 countries including the Burj Al Arab Hotel (Dubai), Emirates Palace (Abu Dhabi), the Museum of Islamic Art (Doha), Four Seasons Hotels (Sharm El Sheikh & Mumbai) and Mazagan Resort (Casablanca).
For more information, please refer to the corporate website: www.depa.com