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Thu 19 Jul 2018 01:50 PM

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Unit of Dubai's Depa wins $20m superyacht fit-out deal

Vedder, a unit of design firm that worked on Burj Khalifa, is awarded interior design contract for new superyacht

Unit of Dubai's Depa wins $20m superyacht fit-out deal
(Photo for illustrative purposes only)

A unit of Dubai-based Depa Limited, the interior design firm which worked on the Burj Khalifa, has won a AED74 million ($20.1 million) contract to fit-out a new superyacht.

Vedder, Depa’s European-based business unit, pecialises in the provision of interior solutions to the superyacht, private jet and high-net-worth residence fit-out markets.

Hamish Tyrwhitt, Depa’s group CEO, said: “This contract award exemplifies the trust our clients have in Vedder and Depa. The award of the entire interior package on this superyacht is testament to Vedder’s continuing unparalleled project delivery, timely execution and quality of craftsmanship.

“Vedder’s backlog remains at record levels. In addition to this important win, Vedder secured an AED130 million superyacht fit-out project earlier this year, its largest superyacht project to date.”

Around 12 percent of the world’s superyachts are thought to be owned by buyers from the Middle East.

The Superyacht Builders Association (SYBAss) said in 2016 that 193 superyachts are owned by people from the Middle East, representing 12 percent of the global fleet of yachts over 40 metres in length.

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