Depa PLC, Dubai’s interior design and specialty contractor, said its business unit has won the fit-out works for a boutique hotel at the Triple Bay in Amaala, Saudi Arabia.

The 140 million Saudi riyal ($37.32 million) contract was awarded to Depa Interiors Group, the company said in a statement.

In January, Depa won several projects worth more than AED 750 million from Saudi Arabia’s Red Sea Global.

In early 2023, the Public Investment Fund, a sovereign wealth fund in Saudi Arabia, purchased $40.84 million worth of new shares in Depa and currently owns 55% of the company.        

(Editing by Brinda Darasha; brinda.darasha@lseg.com)