MARLTON, N.J. and MEXICO CITY, April 8, 2013 (GLOBE NEWSWIRE) -- Hill International (NYSE:HIL), the global leader in managing construction risk, announced today that it has signed a contract with Prudential Real Estate Investors, the real estate investment management and advisory business of Prudential Financial, Inc. (NYSE:PRU), to provide project management oversight (PMO) services in connection with the Mitikah development in Mexico City, Mexico. The three-year contract has an estimated value to Hill of approximately MXP 19.9 million ($1.6 million).
Mitikah is a 500,000-square-meter (5.4-million-square-foot) mixed-use development and is one of the largest real estate developments in Latin America. Hill's contract is for phase two of the development which includes the construction of four buildings. The first building is a 60-story mixed-use tower designed by Cesar Pelli that will be one of the tallest skyscrapers in Latin America. The second building is a 35-story tower designed by Richard Meier. The third building is a 93,000-square-meter (1.0-million-square-foot) retail mall designed by RTKL. The fourth building is a 465,000-square-meter (5.0-million-square-foot) residential complex. For more information on Mitikah, please visit the development's website at www.mitikah.com .
"Mitikah is a one-of-a-kind development in Latin America," said Jose Manuel Albaladejo Canedo-Arguelles, Vice President in charge of Hill's project management operations in Latin America. "This important assignment was awarded as a direct result of Hill's successful prior projects in Mexico and throughout the region," added Albaladejo.Hill International, with 3,700 employees in 100 offices worldwide, provides program management, project management, construction management and construction claims and consulting services. Engineering News-Record magazine recently ranked Hill as the 8th largest construction management firm in the United States. For more information on Hill, please visit our website at www.hillintl.com . The Hill International, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5733 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, performance and achievements, or industry 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. We do not intend, and undertake no obligation, to update any forward-looking statement.
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