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MARLTON, N.J. & DUBAI, United Arab Emirates, May 30, 2008 (BUSINESS WIRE) -- Hill International (NYSE:HIL), the global leader in managing construction risk, announced today that it has been awarded a contract from the Dubai International Financial Centre Authority to provide project management services during design and construction of The Lighthouse in Dubai, United Arab Emirates. The three-year contract has an estimated value to Hill of approximately AED9.8 million ($2.7 million).
The Lighthouse has been designed as a low carbon commercial tower and aims to reduce its total energy consumption by up to 65% and water consumption by up to 35% compared to the current Dubai standard design. The high-end commercial skyscraper will reach 400 meters (1312 feet) and contain a gross floor area of more than 100,000 square meters (1.1 million square feet). Construction is expected to begin in November 2008 and be completed by April 2011. The total construction cost is estimated at AED1.0 billion ($272 million).
"The Lighthouse is unlike any other skyscraper in the world," said Raouf S. Ghali, President of Hill's Project Management Group (International). "Hill is proud to be a participant in such an innovative project," Ghali added.
Hill International has 2,000 employees in 70 offices worldwide providing program management, project management, construction management and construction claims services. Engineering News-Record magazine recently ranked Hill as the 10th largest construction management firm in the United States. For more information on Hill, please visit our website at www.hillintl.com.
This press release includes certain statements that fall within the definition of "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. Any such statements are subject to risks and uncertainties, overall economic and market conditions, competitors' and clients' actions, and other conditions, which could cause actual results to differ materially from those anticipated, including those risks identified in Hill's filings with the Securities and Exchange Commission. Accordingly, such statements should be considered in light of these risks. Any prediction by Hill is only a statement of management's belief at the time the prediction is made. There can be no assurance that any prediction once made will continue thereafter to reflect management's belief, and Hill does not undertake to update publicly its predictions, whether as a result of new information, future events or otherwise. All currency conversions shown above were made using the exchange rate in effect as of the date of this press release.
(HIL-G)
SOURCE: Hill International
Hill International, Inc. John P. Paolin, 856-810-6210 Vice President of Marketing and Corporate Communications johnpaolin@hillintl.com or The Equity Group Inc. Devin Sullivan, 212-836-9608 Senior Vice President dsullivan@equityny.com
Copyright Business Wire 2008
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