Depa wins first deal in sub-Saharan Africa
Dubai, August 24, 2009
Dubai-based interiors contractor Depa has won a Dh9.2 million ($2.51 million) contract in Angola, as it seeks to diversify its revenues and weather a downturn in its home market.
The contract to fit out guest rooms at a conference centre hotel in Luanda is the Dubai-based firm's first contract in sub-Saharan Africa, it said in a statement.
"We see Angola, a major oil producer, as a key growth market for us in the long term," said Mohannad Sweid, Depa's chief executive. "We are also looking closely at Libya."
An increasing number of UAE contractors have announced plans to expand into north Africa in an effort to diversify their income sources.
Depa said it has fitted out ten luxury hotels in Egypt and has won contracts in Morocco and Sudan. – Reuters