Depa Ltd. shares end flat despite new contract gain

11 October 2010

The FTSE NASDAQ Dubai UAE 20 Index closed at 1859.530 today, up 2.270, or 0.12%, from the previous close. Shares of interior designer Depa Ltd. closed flat at $0.64. Earlier in the day, Depa announced that Mivan Depa, its joint-venture specialist contractor company, has been awarded four contracts, in the UAE and Yemen, worth approximately Dhs100m. The main contract, worth Dhs60m ($16.35m), is for the Cleveland Clinic Abu Dhabi (‘CCAD’), where Mivan Depa will be undertaking drywall partitioning and specialist ceiling works within three of the clinic buildings. The CCAD hospital - a joint venture between Cleveland Clinic and Mubadala Healthcare - is a multi-speciality facility located on Sowwah Island, Abu Dhabi and is scheduled to be completed at the end of 2012.

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