Dubai's Depa nets £2m deal for UK luxury hotel
- Monday, 4 April 2011 4:34 PM
Depa Ltd, the Dubai-based interior contractor, won a £2m (AED11.9m) deal to fit out a luxury country retreat in the UK, the company said in a statement Monday.
The company’s UK arm will fit out the five-star Raithwaite Hall Country Retreat in Yorkshire, Depa said in a statement to Nasdaq Dubai. The project is scheduled for completion in October 2011.
“We continue grow our revenue base across the UK,” Paul Austin, CEO of Depa UK, said in the statement. “The UK remains an important element of our future plans… This project will give Depa a footing in the wider UK FF&E market as we look to further establish our credentials in the commercial, residential and hotel sectors.”
The company reported a 2010 net loss of AED198.2m ($53.9m), as the Dubai-based firm was hurt by claims over the world's largest tower and goodwill impairment charges.
Depa incurred an operating loss of AED3.8m for the year, excluding a one-off Burj Khalifa interim claim of AED186m.
The company reported an order backlog of AED2.2bn as of April 1, marginally higher than its backlog of AED2.1bn in 2009.
Depa UK has previously worked on projects including London hotels Grosvenor House, Le Meridien Waldorf and the Savoy, in addition to hotels at Heathrow, Gatwick, Manchester and York airports.