Hill International and Makan Capital Group to Launch Real Estate Development Company
2008年1月8日 - 10:32PM
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Hill International (Nasdaq:HINT), the worldwide construction
consulting firm, announced today that it has entered into an
agreement with Makan Capital Group (�MCG�), a merchant banking and
investment management firm, pursuant to which they will form a new
joint venture company that intends to develop commercial,
mixed-use, residential, infrastructure and other projects
throughout the Middle East and North Africa. The new company, to be
named Makan Hill International Ltd., will be owned 50% by MCG and
50% by Hill and will be headquartered in Abu Dhabi, United Arab
Emirates. MCG, which is headed by His Highness Prince Abdulaziz bin
Fahad bin Abdullah Al Saud, intends to raise a fund targeted at
approximately $500 million to invest in projects to be developed by
Makan Hill. �This new venture will bring Hill�s project management
resources and experience to the development of projects throughout
the Middle East region,� said Irvin E. Richter, Hill�s Chairman and
Chief Executive Officer. �It will also allow us to begin to develop
projects as a principal with minimal investment by and risk to
Hill,� Richter added. �The combination of MCG�s financial expertise
and Hill�s project management expertise, together with our joint
local market knowledge, will allow our new company to develop
successful projects with the returns demanded by our investors,�
said Steven Koinis, Managing Director and Chief Executive Officer
of MCG. Makan Capital Group is a global private equity and
investment management firm based in Abu Dhabi. MCG�s special focus
on the Middle East and North Africa provides superior investment
products in a Sharia�a compliant manner. For further information
about MCG, please contact Steven Koinis, Managing Director and CEO,
at skoinis@makancapitalgroup.com. Hill International, with 1,600
employees in 70 offices worldwide, provides program management,
project management, construction management, development 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 may
include 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. (HINT-G)
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