Depa wins Abu Dhabi Hilton fit-out deal

Dubai-based interior contractor wins $25m contract for new hotel set to open in mid-2013
Depa wins Abu Dhabi Hilton fit-out deal
Hilton Hotels
By Andy Sambidge
Mon 05 Nov 2012 05:38 PM

Depa Ltd, the interior contractor that fitted out Dubai's Burj Khalifa, the world’s tallest tower, said on Monday it had won a contract for the Hilton Hotel in Abu Dhabi.

It announced a AED93.5m ($25.4m) contract to undertake the supply and installation of interior decoration works for the hotel which is part of the Al Forsan International Sports Resorts development in the UAE capital.

Depa will undertake the complete interior decoration works for 400 rooms covering a total area of 34,000 sq m and the installation of all the furniture, furnishings and equipment. The hotel is set to open in mid-2013.

Walid Zakaria, CEO of Depa's Abu Dhabi office, said: "This contract reflects Depa's standing as a trusted partner for global brands like Hilton.

"Our industry expertise has led our Abu Dhabi office alone to sign approximately AED450m of contracts in the hospitality sector so far this year, including two sets of internal decoration works for Hilton Hotels; one in Abu Dhabi and the other in Riyadh."

He added that the hospitality sector in the GCC was seeing strong performance with new hotels being announced and others needing renovation.

"This should fuel growth for Depa in 2013," Zakaria said.

Depa is also working on the Conrad Hotel in Dubai, Hilton's luxury brand, where the fit-out contract is worth AED250m and is due to be completed in the coming months.

On Sunday, Depa said it expected to report revenue improvements across its business sectors for the third quarter.

The company, which posted a net loss of AED110m ($29.9m) in the first half of the year, said in a trading statement that its underlying business "continues to perform in line with expectations, with all major projects making good progress".

"The company continues to have a backlog of projects at near record levels and has a very strong pipeline of future projects, especially in the GCC and South East Asia, which will be signed into the backlog in the coming months, Depa said in the statement.

It added that results for the third quarter, which will be officially announced later this month, were "expected to see continued revenue improvement across all business lines".

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