PHILADELPHIA and ALGIERS, Algeria, July 07, 2016 (GLOBE NEWSWIRE) -- Hill International (NYSE:HIL), the global leader in managing construction risk, announced today that it has received a contract extension from Societe Algero-Emiratie de Promotion Immobiliere to continue providing project management services in connection with the construction of the Forum Al Djazair development in Algeria. The eighteen-month extension has an estimated value to Hill of approximately $7.3 million.
The project entails four residential towers, three business towers, a commercial center, fifteen luxury villas, a 270-key, five-star hotel and a ten-story hotel and apartment building. Hill announced their original $5.7 million contract for this project in July 2012.
“Our operations in Algeria and throughout North Africa continue to expand thanks to the hard work of our dedicated professionals,” said Waleed Abdel Fattah, Senior Vice President and North Africa Regional Manager for Hill’s Project Management Group. “We are honored that our client has continued faith in our team by extending this important contract,” added Fattah.
Hill International, with 4,600 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 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.
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Source:Hill International, Inc.