PHILADELPHIA and DUBAI, UAE, June 29, 2017 (GLOBE NEWSWIRE) -- Hill International (NYSE:HIL), the global leader in managing construction risk, announced today that it has received a contract from Emaar Properties PJSC to provide program management services in connection with the Dubai Creek Harbour Development in Dubai, United Arab Emirates. Hill’s initial one-year contract has an estimated value of approximately AED 27.8 million ($7.6 million).
The Dubai Creek Harbour Development will feature 113 million square feet of gross floor area which includes residential developments, services apartments, villas, branded hotels and lifestyle retail district. The development is comprised of nine districts with a 30-year phased build-out. Emaar estimates building 2,000 units per year over the first five years. Key structures will include a tower that will exceed the height of Burj Khalifa, a mega retail district, a sanctuary development with exclusive villas and a canal district.
“Dubai Creek Harbour Development is indicative of Dubai’s construction resurgence,” said Mohammed Al Rais, Regional President (Middle East) for Hill's Project Management Group. “Its marquee structures, high-end amenities and ambitious growth plan will support Dubai’s business and tourism growth for many years to come,” added Al Rais.
Hill International, with 3,300 professionals in more than 50 offices worldwide, provides program management, project management, construction management and other consulting services primarily to the buildings, transportation, environmental, energy and industrial markets. Engineering News-Record magazine recently ranked Hill as the eighth largest construction management firm in the United States. For more information on Hill, please visit our website at www.hillintl.com.
Certain statements contained herein may be considered “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, and it is our intent that any such statements be protected by the safe harbor created thereby. Except for historical information, the matters set forth herein including, but not limited to, any projections of revenues, earnings or other financial items; any statements concerning our plans, strategies and objectives for future operations; and any statements regarding future economic conditions or performance, are forward-looking statements. These forward-looking statements are based on our current expectations, estimates and assumptions and are subject to certain risks and uncertainties. Although we believe that the expectations, estimates and assumptions reflected in our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of our forward-looking statements. Important factors that could cause our actual results to differ materially from estimates or projections contained in our forward-looking statements are set forth in the Risk Factors section and elsewhere in the reports we have filed with the Securities and Exchange Commission, including that unfavorable global economic conditions may adversely impact our business, our backlog may not be fully realized as revenue and our expenses may be higher than anticipated. We do not intend, and undertake no obligation, to update any forward-looking statement.
Hill International, Inc.
John P. Paolin
Senior Vice President of Marketing and
Corporate Communications
(215) 309-7710
johnpaolin@hillintl.com
The Equity Group Inc.
Devin Sullivan
Senior Vice President
(212) 836-9608
dsullivan@equityny.com
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