Depa wins $60m contract for second major project in Angolan capital
Depa Limited, one of the world's leading interior contracting companies, today announced that it has been awarded a major contract for both the interior fit-out and furniture, fixtures and equipment (FF&E) of a five star Hotel & Casino in Luanda, the Capital of Angola. The contract is worth $60m (AED220m).
The project is being developed by Sonangol, the Angolan National Oil Company as part of the Government's plan to build 28 hotels around the country by 2011. Depa has been contracted for the design, fit-out and supply of FF& E for the interiors of the Hotel and Casino over 34,715m².
This is the second contract that Depa has won in Angola following last year's contract to fit out all 202 guest rooms and public areas of the Talatona Convention Centre Hotel in Luanda. This was completed on time and budget and the Hotel opened at the end of 2009.
Mohannad Sweid, Chief Executive Officer, Depa Limited commented: "Angola is a market which we see as having many opportunities for significant long-term growth. The Country is making giant strides with major economic reforms and continues to attract significant foreign direct investment. 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."
Nadim Akrass, Managing Director, Operations, Depa Limited, said: "Having successfully undertaken an initial project in Luanda where we were able to demonstrate our credentials, we have been establishing our presence and are now well positioned to support the development of the Country's hospitality sector."
- A burst bubble? Dubai property set to drop in 2015 as currency adds to woes
- Construction meets Sharia: settling disputes the Saudi way
- Six savvy tips for choosing a real estate agent
- 'Selective softening': How Dubai's stabilizing property prices are in no way inclusive
- Abu Dhabi's Louvre: how far has it come and how far will it go?