Depa wins $60m contract for Angolan hotel project
Interior design contractor in lucrative five-star Luandan hotel deal
Depa Limited, the interior design contractor who fitted out the Emirates Palace Hotel, Burj Al Arab and Burj Khalifa, has signed a $60m contract in Angola, the Dubai-based company announced on Wednesday.
Depa, which is listed on NASDAQ Dubai, has been awarded the AED220m ($60m) contract for the interior fit-out and furniture, fixtures and equipment the five star Hotel and Casino in the Angolan capital of Luanda.
The hotel is part of the Angolan government’s plans to build 28 hotels by 2011 and will be developed by Sonangol, the Angolan National Oil Company.
The deal to fit out the 34,715m2 hotel and casino is the second contract Depa has won in Angola, after fitting out the rooms and public areas of the Talatona Convention Centre Hotel in Luanda in 2009.
“Angola is a market which we see as having many opportunities for significant long-term growth. We continue to focus on diversifying our revenues in targeted countries such as Angola and continue to explore opportunities in other politically safe African nations,” said Mohannad Sweid, CEO of Depa
Depa said in May it was "cautiously optimistic" about 2010 and expects profit and revenues for the year to be in line with 2009. In the home market, it said it target markets in Abu Dhabi, Saudi Arabia and South East Asia.
Based in Dubai, but with sixteen offices and 8,000 staff worldwide, Depa has worked on projects such as the Atlantis Hotel, Armani Hotel and Burj Al Arab in Dubai, Yas Island and Emirates Palace hotels in Abu Dhabi, the Dubai Metro, Dubai Airport and the Savoy and Waldorf hotels in London.