Gammon Construction – Balfour Beatty and Jardine Matheson’s Hong Kong joint venture – has been awarded has been awarded two contracts worth £ 599 million (US$ 847.91million) in total, to build a new office tower and a residential block.

The bigger of the two contracts – the redevelopment of Somerset House, in Taikoo Place, Hong Kong, China – is worth some HK$ 4 billion (US$ 513.61 million), and will see a redevelopment of the site in to a 48-storey office building on top of a two-storey basement.

The project will comprise a number of office buildings and is home to companies including AXA and JP Morgan. Swire Properties, which owns the site, also plans to redevelop two other buildings on the site – Cornwall House and Warwick House – it has been reported.

The company said construction will begin in the second quarter of 2016, and is expected to be completed in 2018.

The company added that a workforce of 1,400 will be in force during the peak construction period.

Thomas Ho, CEO of Gammon Construction, said, “We are delighted to have been selected by Swire Properties and to be involved with this landmark project in Taikoo Place.

“Gammon’s advanced technological standards and expertise in building construction are key factors in the contract award.”

Meanwhile, Gammon Construction has also been awarded a HK$ 2.6 billion (US$ 333.92 million) contract for the construction of a residential project at Tseung Kwan O, in the New Territories, Hong Kong.

The project will include the construction of six 12- to 18-storey residential towers, and five four-storey houses, which in total will provide 857 new homes.

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