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Hill International Awarded Project Management Services Contract for Egypt’s Taj City and Sarai Projects

1178 Days ago

PHILADELPHIA and CAIRO, Egypt, March 05, 2019 (GLOBE NEWSWIRE) -- Hill International (NYSE:HIL), the global leader in managing construction risk, announced today it has been awarded a contract to provide project management services for the Madinet Nasr for Housing & Development (MNHD) company’s mega mixed-use projects: Taj City and Sarai in Egypt.

MNHD, a leading public real estate development company founded in 1959 and listed on the Egyptian stock exchange since 1996, envisions Taj City to be Cairo’s cultural destination and Sarai to be Cairo’s entertainment destination.

With easy access to the heart of the Egyptian capital, Taj City will serve as an attractive venue to accommodate luxurious residential units, commercial areas, a world-class hotel, mall, expert medical facilities, and an international school. Hill will provide project management services during construction.

With a premium location directly on the Cairo-Suez Road, giving access to all major Cairo districts, Sarai will be a true destination, featuring a variety of residential, commercial, retail, and leisure ventures. As with Taj City, Hill will provide project management services during construction.

“Hill is honored to be awarded this contract with Madinet Nasr for Housing & Development to help shape Cairo’s real estate future and grow the city’s residential and recreational footprint,” said Waleed Abdel Fattah, Senior Vice President and Hill’s Managing Director, Africa. “We look forward to supporting MNHD grow and expand the local economy, create new jobs, and develop communities.”

About Hill International

Hill International, with approximately 2,700 professionals in more than 50 offices worldwide, provides program management, project management, construction management, and other consulting services to clients in a variety of market sectors. 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.

Forward Looking Statements

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 statements of belief or intent, any statements concerning our plans, strategies, and objectives for future operations; and any statements regarding our intent to file late periodic reports or relisting on a national securities exchange, 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, our expenses may be higher than anticipated, and the review of the Company's accounting, accounting policies and internal control over financial reporting, and the preparation of and the audit or review, as applicable, of filings may take longer than currently anticipated or additional restatement adjustments may be identified.  We do not intend, and undertake no obligation, to update any forward-looking statement.

Hill International, Inc.
Elizabeth J. Zipf, LEED AP BD+C
Senior Vice President
Hill International, Inc.
One Commerce Square
2005 Market Street, 17th Floor
Philadelphia, PA 19103
(215) 309-7707

Hill International, Inc.
Todd Weintraub
Senior Vice President and Chief Financial Officer
(215) 309-7951

John Glenn Grau
(203) 295-7841


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