Balfour Beatty's Hong Kong venture
By Neill Barston23 February 2015
Balfour Beatty’s joint venture, Gammon Construction, has won a HK$ 3.2 billion (US$ 412 million) contract for a key residential development in Hong Kong.
The 112,000 m2 scheme in Tsuen Wan involves building 900 apartments across seven towers ranging from 12 to 40 storeys high. There will also be a range of retail and recreational facilities.
It will also require the development of a public transport interchange and five footbridges as part of the project. The scheme was developed by the Chinachem Group and the contract is with TW5 Cityside Property Development.
Leo Quinn, Balfour Beatty chief executive, said, “This project reflects the continuous growth in the residential market across Hong Kong. The government has projected that the private housing sector will, on average, produce over 14,500 flats each year in the next five years, representing an increase of about 30% compared to the last five years.”
