Balfour Beatty PLC Balfour Beatty Awarded $260M US scheme in Miami (6123S)

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RNS Number : 6123S

Balfour Beatty PLC

04 October 2017

News Release

04 October 2017

Balfour Beatty Awarded $260 Million (c. GBP193m) US commercial and residential scheme in Miami

Balfour Beatty, the international infrastructure group, has been awarded a $260 million (c. GBP193 million) contract to build the River Landing Shops and Residences project in Miami for real-estate investment trust, H&R REIT and Urbanx Company in association with real estate developer, Matthews Southwest, a long standing client since 2009.

Located on 8.1 acres along the Miami River, the mixed-use project will offer over 2 million square feet of retail and residences in Miami's Civic Centre including two residential buildings which will feature 475 rental apartments and, a five-storey shopping centre.

Leo Quinn, Balfour Beatty Group Chief Executive, said: "This transformational development in the heart of Miami builds on Balfour Beatty's historical and growing relationship with Matthews Southwest as we expand on our presence in the South Florida market."

Construction is expected to commence in late 2017 and is scheduled for completion in the fourth quarter of 2019. At its peak, the project will employ a team of approximately 750.

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Notes to editors:

   -- Balfour Beatty (www.balfourbeatty.com) is a leading international infrastructure group. With 30,000 employees, we 
      provide innovative and efficient infrastructure that underpins our daily lives, supports communities and enables 
      economic growth. We finance, develop, build and maintain complex infrastructure such as transportation, power and 
      utility systems, social and commercial buildings. 
 
   -- Our main geographies are the UK, US and Far East. Over the last 100 years we have created iconic buildings and 
      infrastructure all over the world including the London Olympics' Aquatic Centre, Hong Kong's first Zero Carbon 
      building, the National Museum of the Marine Corps in the US and the Channel Tunnel Rail Link. 
 
   -- Balfour Beatty's US business is an industry-leading provider of general contracting, at-risk construction 
      management and design-build services for public and private sector clients across the nation. Performing heavy 
      civil and vertical construction, the company is consistently ranked among the nation's largest building 
      contractors, and is the No. 6 Domestic Building Contractor as ranked by Engineering News-Record. To learn more, 
      visit www.balfourbeattyus.com 
 
   -- Balfour Beatty's current portfolio of projects in the US includes the US$625 million (c.GBPGBP484 million) joint 
      venture contract to reconstruct and improve the 'Southern Gateway', an 11 mile stretch of road in Dallas, Texas 
      which will enhance traffic flow for 180,000 motorists every day for the Texas Department of Transportation; the 
      US$697 (c.GBPGBP524 million) contract to undertake electrification of the 52-mile Caltrain rail corridor between 
      San Francisco and San Jose, laying the foundations for the future operation of high speed trains; the US$260 
      million (c.GBPGBP175) Harrison Medical Centre project in Seattle; and the US$100 million (c.GBPGBP80 million) 
      contract to serve as construction manager for Cleburne Independent School District's (CISD). 

This information is provided by RNS

The company news service from the London Stock Exchange

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October 04, 2017 02:00 ET (06:00 GMT)