Depa JV wins Dhs118m contract for fit-out works in landmark resort in Singapore

Depa Limited 'ticker DEPA', the world's largest interior contractor, today announces that its joint venture, DDS Contracts & Interior Solutions Pte Ltd 'DDS', has won an Dhs118m contract for the fit-out works of an entertainment venue at Resorts World 'RWS' an integrated holiday resort on the popular island of Sentosa, Singapore.

Mr. Mohannad Sweid, CEO of Depa, commented:

'DDS has made outstanding progress in the Singaporean market and we believe that it will continue to win the most prestigious landmark hotel, lifestyle and commercial projects in the future. Like Depa, DDS is establishing a reputation as a leading player that prides itself in its ability to work on selected projects and deliver them on time and on budget.'

RWS is one of Singapore's two integrated resorts and is located on the island of Sentosa which is visited by some five million people a year. Expected to be one of the world's most exciting family destinations, RWS will be a collection of resorts with a wide range of attractions for families. Spanning 49 hectares, this Dhs15bn mega-resort will be home to Southeast Asia's first and only Universal Studios theme park, the world's largest oceanarium and the region's first integrated destination spa.

DDS has been contracted to provide interior design fit-out works and services including the supply of furniture for the 15,000 square meters entertainment venue in the luxury hotel, Maxim Residences.

Mr. Bernard Lim, CEO of DDS and Design Studio, said:

'Resorts World at Sentosa will transform the landscape of Singapore when completed. We are proud to be associated with this exciting destination and look forward in bringing our expertise to the project. Our ability to secure good quality projects speaks volumes of the Company's capabilities. We will build on this track record and continue to explore similar high end projects within the region.'

DDS, in which Depa holds 55% and Design Studio 45%, is a specialist company well-positioned to become a significant player offering comprehensive fit-out services, including turnkey and retrofitting services, to new and existing hospitality and commercial projects. The joint venture targets interior contracts in the hospitality & commercial segments within Singapore, Malaysia, Thailand, Indonesia and Vietnam. This contract is expected to contribute positively to Design Studio's and Depa's financial performance for FY2009 / 2010.

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