Depa Group

What Depa Group does

Depa PLC, listed on Nasdaq Dubai (DEPA:DU, DEPACLA:DU), is a holding company for a global interior contracting and fit-out platform serving luxury hospitality, residential, retail, transportation infrastructure, marine, and aviation end markets. The group operates four wholly-owned key business units: Depa Interiors (full-scope interior contracting for hotels, apartments, airports, shops, theme parks, and offices), Deco Group (interior contracting and furniture manufacturing focused on the Middle East retail sector), Vedder (German-engineered luxury interiors for superyachts, private residences, hotels, and private aircraft, with 130+ years of German engineering heritage, 450+ specialist staff, and 50 years/80+ projects in superyachts), and Carrara (premium interior solutions). The company runs two regional hubs in Europe and the Middle East and delivers integrated design, manufacturing (joinery, FF&E, stone), procurement, and installation as a turnkey package.

The business model is project-based, quote-driven, and milestone-billed, with multi-year contract cycles typical of premium fit-out work. Depa monetizes through one-time project engagements for interior contracting and professional services revenue for FF&E manufacturing, stone supply and installation, and specialized marine/aviation interiors. Go-to-market is direct enterprise sales to luxury hotel operators, tier-one real estate developers, and property owners, with no channel intermediaries; relationship-based selling and an iconic project portfolio (Burj Khalifa, Marina Bay Sands, Emirates Palace, Burj Al Arab, Waldorf Astoria, Atlantis The Palm) anchor specification wins. Pricing is fully custom per project and is not publicly disclosed at the line-item level.

Depa is registered in DIFC (Dubai) and relocated its operational headquarters to Riyadh, Kingdom of Saudi Arabia in 2025, with major shareholder backing from Saudi Arabia's Public Investment Fund. FY2025 revenue reached AED 1,575.6 million (up 18% year-on-year) with net profit of AED 154.8 million (up 76%) and a backlog of AED 2,399.6 million, supported by a AED 658.2 million rights issue completed in late 2025 to fund working capital, a new Riyadh joinery factory, and potential inorganic acquisitions.

Name

Depa Group

Legal name

Depa Group

Website

https://depa.com

Company type

Public

Founded year

2003

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Depa PLC is a Nasdaq Dubai-listed interior contracting group operating four business units (Depa Interiors, Deco, Vedder, Carrara) that deliver premium fit-out, FF&E manufacturing, stone supply, and superyacht/aircraft interiors for luxury hotels, residential developers, and marine/aviation owners globally.

Ownership category

akta.pro rank

Headquarters

HQ city

Dubai

HQ country

United Arab Emirates

HQ region

Middle East

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Supply Chain, Infrastructure, Operations, Marketing or Sales, Technology or R&D

Revenue model

1. Interior Contracting Services: Full scope interior fit-out services for luxury hotels, apartments, airports, shops, yachts, theme parks, and offices. Revenue generated through project-based contracts with long development cycles and milestone-based billing
2. FF&E Manufacturing and Procurement: Furniture, Fixtures, and Equipment manufacturing and procurement services as part of complete interior solutions
3. Stone Supply and Installation: Specialized stone supply and installation services for interior projects
4. Super Yacht and Aircraft Interiors: Custom interior solutions for superyachts and private aircraft through Vedder business unit

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Depa Group is a global interior contracting company that delivers full-scope interior fit-out and furnishing for luxury hotels, apartments, airports, shops, yachts, theme parks, and offices. Services span design, FF&E manufacturing and procurement, stone supply and installation, and specialized superyacht and private aircraft interiors through its four key business units: Depa Interiors, Deco Group, Vedder, and Carrara.

Product overview

Depa Group is a premier global interior solutions provider listed on Nasdaq Dubai, operating as a platform of four key business units: Vedder, Depa Interiors, Deco Group, and Carrara. The company offers a comprehensive portfolio of services including interior contracting, FF&E (Furniture, Fixtures, and Equipment) manufacturing and procurement, stone supply and installation, and specialized super yacht and aircraft interiors. Vedder serves the luxury yacht, private aircraft, and European markets with German engineering expertise, while Depa Interiors handles core fit-out contracting for hospitality, residential, and commercial sectors across the Middle East. Deco Group focuses on retail sector interior contracting and furniture manufacturing in the Middle East. The Group operates manufacturing facilities and maintains regional hubs in Europe and the Middle East.

Differentiator

Problem solved

Functional benefit

Brands

• Vedder: German-based interior solutions provider specializing in luxury yachts, private residences, hotels, public infrastructure, commercial/retail spaces and private aircraft. Over 130 years of German engineering experience with 50 years in superyacht business.
• Deco Group

Products and services

• Vedder Interior Solutions German-based business unit delivering projects for luxury yachts, private residences, hotels, public infrastructure, commercial and retail spaces, and private aircraft interiors. Operates two production facilities with over 450 specialist staff.
• Depa Interiors Core interior contracting business unit specializing in full-scope fit-out, interior fit-out and furnishing of luxury hotels, apartments, airports, shops, yachts, theme parks, and offices.
• Deco Group Interior contracting and furniture manufacturing business for the retail sector in the Middle East, offering high standards of construction, manufacturing, design, and project management.
• Carrara Premium interior solutions business unit serving alongside Vedder, Depa Interiors, and Deco, focused on the interior solutions market.
• Interior Contracting Services Full-scope interior contracting services including fit-out, furnishing, and installation for luxury properties across hospitality, residential, and commercial sectors.
• FF&E Manufacturing and Procurement Furniture, Fixtures, and Equipment (FF&E) manufacturing and procurement services for interior projects, integrating bespoke and procured items into project delivery.
• Stone Supply and Installation Specialized stone supply and installation services for interior and exterior applications across luxury projects.
• Super Yacht and Aircraft Interiors Specialized interior solutions for superyachts and private aircraft, delivered primarily through Vedder's German engineering capabilities.
• Manufacturing Facilities Production facilities for manufacturing interior components and furniture, supporting joinery and FF&E production at scale.

Quantifiable outcome

• FY 2025 revenue of AED 1,575.6 million, up 18% year-on-year
• +2 more outcomes

Named customers20 records

Segments8 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Four partnerships are on record, tiered core.

• DeloittecoreOthers · 4 June 2025Deloitte was appointed as independent external auditor at the FY 2025 AGM held on June 4, 2026, succeeding PwC.
• PricewaterhouseCoopers (PwC)coreOthersPwC serves as Depa's independent external auditor, providing audit services for financial statements and regulatory compliance. The firm was reappointed at the 2025 AGM.
• Vedder CustomerscoreOthersVedder serves a loyal customer base including superyacht owners, private aircraft operators, luxury hotel operators, and high-net-worth individuals requiring bespoke interior solutions.
• Deco Group ClientscoreOthersDeco Group serves retail sector clients requiring high standards of construction, manufacturing, design and project management for interior fit-outs.

Scale indicators7 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• ISG: UK-headquartered global interior fit-out and construction services specialist delivering premium commercial, hospitality, and residential fit-out across Europe, Middle East, and Asia. Directly comparable to Depa in fit-out scale, geographic reach, and luxury customer base.
• Willmott Dixon Interiors: UK-based fit-out contractor operating through dedicated interiors brand, delivering commercial, hospitality, and residential interior projects. Comparable in project type and tier-one customer engagement.
• BW: Workplace Experts: UK fit-out and refurbishment specialist serving commercial offices and luxury hospitality. Comparable in project-based fit-out delivery and emphasis on premium finishes.
• McLaren Construction Group: UK construction group with established interior fit-out division serving luxury hospitality, commercial offices, and high-end residential. Comparable fit-out capability and customer profile to Depa.
• ALEC Engineering & Contracting: UAE-based main contractor with strong interior fit-out capability and historical connection to Depa (which originated as a JV involving ALEC). Competes head-to-head in Middle East premium hospitality and commercial fit-out.
• Khansaheb Civil Engineering: Major UAE interior contracting firm with deep relationships across regional hospitality, commercial, and residential developers. Comparable customer set and project profiles to Depa Interiors.

Broad incumbents

• Wates Group: UK-based tier-one contractor with significant fit-out and refurbishment capability serving public and private sector customers. Overlaps with Depa on large commercial and hospitality interior projects.
• Multiplex (Brookfield): Global main contractor under Brookfield with significant Middle East and luxury hospitality presence; offers broader construction portfolio but overlaps with Depa on premium interior fit-out of major hospitality and residential assets.

Regional players

• Al Naboodah Construction Group: UAE construction group with interior contracting and fit-out capability serving regional hospitality, commercial, and infrastructure clients. Comparable Gulf-based fit-out execution model.
• Al Shafar General Contracting: UAE-headquartered main contractor with interior fit-out capability serving commercial, hospitality, and industrial sectors across the Gulf. Comparable regional fit-out execution model to Depa Interiors.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/depa-ltd

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Depa Group