Depa Limited, one of the world's leading interior contracting companies, has entered the Angolan market through an initial contract to fit out all 202 guest rooms and public areas of the Talatona Convention Centre Hotel in Luanda, Angola. This first contract in Angola has a value of AED9.2 million. Mohannad Sweid, chief executive officer, Depa Limited, said: “Depa's strategy has always been forward-thinking and, as we did in South East Asia, we enter markets which we identify as having significant long-term growth opportunities. Typically this means entering a market when it is at an early stage of development in order to form the right relationships and understand more about market dynamics and local working culture. After successfully undertaking an initial project in any new market, we then focus on firmly establishing our presence and selectively pursue a range of prestigious projects with clients we have already identified as having a solid reputation and track record.” “We see Angola, a major oil producer, as a key growth market for us in the long term due the massive transformation it has undertaken in recent years and the government's significant efforts to reinvest the vast revenues generated by natural resources into developing the country. We are also looking closely at Libya, and working on plans to enter countries which are undergoing significant economic reforms and we believe, like Angola, are politically stable and set to attract significant foreign direct investment over the coming years,” he added.
