PHILADELPHIA and MAKKAH, Saudi Arabia, Nov. 16, 2015 (GLOBE NEWSWIRE) -- Hill International (NYSE:HIL), the global leader in managing construction risk, announced today that it has received a contract extension from the Jabal Omar Development Company (JODC) in connection with the Jabal Omar mixed-use development in Makkah, Saudi Arabia. The one-year contract extension has an estimated value to Hill of approximately SAR 51.7 million ($13.8 million).
The Jabal Omar development, situated on 57 acres, includes 37 towers with a total built-up area of 2.0 million square meters (21.5 million square feet) of space, including hospitality, residential, retail, commercial and religious facilities. Hill has been the project manager on this multi-billion-dollar development since 2010.
"We are honored that JODC continues to rely upon our project management expertise," said Mohammed Al Rais, President (Middle East) for Hill's Project Management Group. "We are confident that our team will continue to perform beyond our client's expectations," Al Rais added.
Hill International, with 4,800 employees in 100 offices worldwide, provides program management, project management, construction management, construction claims and other consulting services primarily to the buildings, transportation, environmental, energy and industrial markets. Engineering News-Record magazine recently ranked Hill as the seventh 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, performance and achievements, or industry 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.
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Source:Hill International, Inc.