Marina Bay Sands Integrated Resorts. Picture: Internet
DESIGN STUDIO’s recently-established associate, DDS Contracts & Interior Solutions (DDS), has gotten off to a roaring start with the winning of a S$69.1 million contract in Singapore.
DDS, an interior fit-out specialist company offering total solutions to fitting-out projects, this evening (July 22) announced that the contract was for work at the prestigious Marina Bay Sands Integrated Resort.
DDS has been contracted to fit-out 716 guest rooms, including guest corridors and lobbies in Hotel Tower 1 of the Integrated Resort from the sixth to 49th floors.
The contract is expected to contribute positively to Design Studio and Depa’s financial performance for 2009 and 2010.
The Marina Bay Sands will have world-class convention and exhibition facilities, a luxury hotel, an iconic ArtScience Museum, Las Vegas-style gaming, state-of-the-art theatres, entertainment and an unparalleled spread of shopping and dining outlets in one landmark structure.
This project win by DDS comes just four months after it was sett up by Depa, the world’s largest interior contracting company, and Design Studio, Singapore’s leading Furniture Manufacturer, Product and Interior fit-out specialist.
Depa holds 55% and Design Studio 45% of DDS.
DDS reckons it is poised to be a significant player offering a comprehensive fit-out suite, including turnkey and retrofitting services, to new and existing hospitality and commercial projects.
Design Studio CEO Bernard Lim and Mohannad Sweid, CEO, Depa, at the formation of DDS in April this year. Picture by Goh Chee Kiong
DDS is targetting contracts in the hospitality & commercial segments in Singapore, Malaysia, Thailand, Indonesia and Vietnam.
At Marina Bay Sands, DDS will be working with South Korean main contractor, SsangYong Engineering and Construction Co., Ltd.
Bernard Lim, CEO of DDS and Design Studio, said, “Our topmost priority now is to partner with SsangYong to ensure seamless execution of this important segment of the Marina Bay Sands IR project. We are honored to have been selected as a key partner in this esteemed project and are confident of delivering in a timely manner, meeting our client’s expectations and providing an exceptional experience for future guests staying in the hotel.”
Mohannad Sweid, CEO of Depa, said: “We are excited about this magnificent project win and strongly believe that DDS will deliver outstanding results, thanks to our partner Design Studio’s expertise and knowledge in the Asian market and Depa’s worldwide reputation as a leading interior contractor with a solid track record of prestigious projects. This project marks the very beginning of Depa’s activities in Asia, for which we see huge potential.”
Prior to the announcement of the Marina Bay win by its associate, Design Studio, which is listed on the Singapore Exchange, had a record order book of $189.32 million. Its 3-year financials are summarised as follows:
| Design Studio | 2005 | 2006 | 2007 |
Turnover $ | 38.2 m | 59.7 m | 76.4 m |
| EPS (cents) | -1.41 | 2.65 | 4.03 |
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For insights into the formation of DDS and its ambitions, read: DESIGN STUDIO: Designs for the big time
