Dubai-based Depa Limited’s business unit Vedder was recently awarded , a AED74 million ($20.1 million) contract to fit-out a new superyacht.
Vedder is the same interior design firm which worked on the Burj Khalifa. The firm specialises in the provision of interior solutions to the superyacht, private jet and high-net-worth residence fit-out markets.
Hamish Tyrwhitt, Depa’s group CEO, said: “This contract award exemplifies the trust our clients have in Vedder and Depa. The award of the entire interior package on this superyacht is testament to Vedder’s continuing unparalleled project delivery, timely execution and quality of craftsmanship.
“Vedder’s backlog remains at record levels. In addition to this important win, Vedder secured an AED130 million superyacht fit-out project earlier this year, its largest superyacht project to date.”
Around 12 percent of the world’s superyachts are thought to be owned by buyers from the Middle East.
The Superyacht Builders Association (SYBAss) said in 2016 that 193 superyachts are owned by people from the Middle East, representing 12 percent of the global fleet of yachts over 40 metres in length.
The superyacht industry revolves around wealthy individuals who wish to own a superyacht and the shipyards who facilitate them in achieving this goal. A wide range of companies other than yards are also active in the superyacht industry, ranging from equipment suppliers to the media, from yacht brokers to captains and crew.
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