PHILADELPHIA and RIYADH, Saudi Arabia, March 28, 2016 (GLOBE NEWSWIRE) -- Hill International (NYSE:HIL), the global leader in managing construction risk, announced today that it has received a contract from DUR Hospitality in connection with construction of the Diplomatic Quarter Marriott Hotel in Riyadh, Saudi Arabia. The two-year contact has an estimated value to Hill of approximately $2.7 million.
The Diplomatic Quarter Marriott Hotel will be a five-star hotel with 80 hotel rooms and 140 residential apartments. The hotel will feature a conference center, ballroom and a 220-space parking garage. The 39,000-square-meter (420,000-square-foot) project is expected to achieve LEED Silver certification.
“We are very excited to help deliver the Diplomatic Quarter Marriott Hotel for DUR,” said Mohammed Al Rais, Regional President (Middle East) for Hill’s Project Management Group. “The project will be an asset to Riyadh’s hospitality and tourism sector,” added Al Rais.
Hill International, with 4,800 professionals 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 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
The Equity Group Inc.
Senior Vice President
Source:Hill International, Inc.