Depa wins Syria hotel project
Damascus, December 29, 2010
Depa Limited, a leading interior contracting firm, said it has signed a Dh72 million ($19.8 million) contract for the complete fit-out and loose furnishings works on the five-star Yasmeen Rotana Hotel in Damascus, Syria.
Depa was appointed by Bena Properties, the real estate development and investment arm of Cham Holding.
As the project manager, Depa will oversee the full scope of work and will be responsible for the entire fit-out of the project, said a statement from Depa.
This includes fit-out of all the 338 rooms and suites; and public areas including the main lobby and lounge, restaurants, banquet hall and the health club. Furthermore, Depa will be supplying all soft furnishings for the hotel, it added.
The work is due to start in January 2011 and will be completed by the first quarter of 2012, said Mohannad Sweid, chief executive officer, Depa Limited.
"We are very pleased to have won our first ever contract in Syria. The past few years has witnessed the country’s tourism industry accelerating at a greater pace in light of the infrastructural developments taking place and the recent measures allowing international companies to enter the Syrian market."
"Thus, we hope this contract win will be the first of many in Syria as we continue to build on our strategic ambition of expanding our income stream to new geographical regions and diversifying the sectors we represent," he added.
The Yasmeen Rotana is situated on the Damascus-to-Beirut highway, 15 minutes from the city centre. The hotel will occupy roughly 4,000 sq/m of land and 53,700 sq/m of total built up area and will encompass 338 rooms and suites, 600-seat banquet hall, 6 meeting rooms, a spa and fitness centre with pool and a sky bar and cigar lounge.
Depa recently announced its first contract win in Yemen through its JV partnership Mivan Depa.-TradeArabia News Service