Text size:

  • Small
  • Normal
  • Large
The Doha airport deal is part of Depa's move to focus more on government-funded infrastructure projects. Osama Faisal / AP Photo
The Doha airport deal is part of Depa's move to focus more on government-funded infrastructure projects. Osama Faisal / AP Photo

Depa signs its biggest contract yet

Depa, the Dubai interior contractor, has signed a Dh929 million deal, the largest in its history, to fit out lounges in the Doha airport

Depa, the interior contractor for the world's tallest building, has signed its biggest contract to help to complete Doha's new international airport.

The Dh929 million (US$252.9m) deal calls for the Dubai contractor to fit out 27 lounges in the airport, which is shaping up as one of the most luxurious transportation facilities in the world.

Some of the lounges will be in a terminal reserved only for business and first-class passengers.

"They really want them [the airport lounges] to be five-star luxury," said Noor Sweid, Depa's managing director of strategy.

Thanks to the airport deal, Depa's backlog of projects has jumped to a record Dh3.9 billion, up from Dh2.3bn at the end of June. The increase was due in part to a "significant pick-up" in projects that previously had been delayed. "The decision making [on projects] was delayed and now it is back on track," Ms Sweid said. "Nobody wanted to make any commitments in March."

The Doha airport deal is part of Depa's move to focus more on government-funded infrastructure projects. The contract will be handled by Lindner Depa, the company's joint venture established to focus on infrastructure projects.

Depa has been working to diversify away from its Dubai base. Of the 10 biggest projects in its backlog, only one is in the UAE.

Depa's recent deals include a Dh375m contract for architectural finishes at the King Abdullah Petroleum Studies and Research Center in Riyadh and Dh109m for interior work at the new international terminal in Mumbai.

Qatar is turning into a major source of work for the company. The backlog of projects includes a Dh119m contract for the Twin Towers Hotel and a Dh79m deal for work on Doha City Center.

The $14.4bn Doha airport will eventually cover 2,200 hectares and be one of the world's largest airports.

It is designed to handle 50 million passengers a year by the time it is completed in 2015.

Interiors will include a bamboo forest and pools to provide "sensory refreshment for travellers", according to the airport's website.

Depa's shares closed unchanged yesterday at 44.5 cents, compared with this year's peak of 60 cents on May 4.

kbrass@thenational.ae

Back to the top

More articles


Editor's Picks

 The Greens, villas: Q1 no change. 3BR - Dh210-250,000. 4BR - Dh210-260,000. 5BR - Dh220-300,000. Q1 2013-Q1 2014 5% rise. Pawan Singh / The National

In pictures: Where Dubai rents have risen and fallen, Q1 2014

Find out how rental prices in the prime locations in Dubai have altered during the first three months of the year and the current rates you will pay according to data provided by Asteco.

 Above, the private pool of Ocean Heights' five-bedroom penthouse flat. Courtesy Christie’s International Real Estate

In pictures: Penthouse flat is height of Dubai luxury living

A five-bedroom penthouse in Ocean Heights in Dubai Marina is on sale for Dh25 million and comes with a private pool and an unparalleled view of Dubai.

 The cooling towers of the Temelin nuclear power plant near the Tyn nad Vltavou in Czech Republic. The country wants to continue expanding nuclear energy capacity despite cancelling a tender to build two new units. David W Cerny / Reuters

In pictures: Best business images for the week to April 17, 2014

Here are some of the best business images for the week to April 17, 2014.

 Three generations of the Hakimi family tend to their stall Crawford Market in Mumbai. Subhash Sharma for The National

In pictures: Shopper’s delight at Crawford Market in Mumbai

Crawford Market is an old British-style covered market dealing in just about every kind of fresh food and domestic animal imaginable. Later on renamed Mahatma Jotirao Phule, the market remains popular among locals and visitors by its old name, taken from Arthur Crawford who was the first municipal commissioner of the city.

 The Wind, Energy, Technology and Environment Exhibition takes place from April 14 to April 16. Above, the Dewa showroom during last year’s Wetex. Jaime Puebla / The National

April corporate and economic calendar for the UAE and overseas

From Cityscape to Wetex to stock-market holidays to nations reporting first-quarter GDP figures, here is our helpful calendar of April's business events in the UAE and internationally.

 Get the latest information on credit cards, bank accounts and loan products in the UAE. Mark Lennihan / AP Photo

Rates report: Latest on UAE loans, accounts and credit cards

Souqamal.com brings you the latest interest rates on banking products in the UAE.

Events

To add your event to The National listings, click here

Get the most from The National