Hill International to Provide Project Management Services for Iconic Hospitality Project in Cyprus
March 19 2020 - 7:00AM
Hill International (NYSE:HIL), the global leader in managing
construction risk, announced today it was awarded a contract by the
Cyprus Tourism and Development Company Ltd. (CTDC), a company owned
by Invel Real Estate and Prodea Investments, to provide project
management services in connection with the redevelopment of the
iconic Landmark Nicosia hotel into a distinct mixed-use hospitality
and lifestyle destination.
The historic 294-keys hotel, formerly known as
the Hilton Cyprus, is the landmark hospitality asset for the city
of Nicosia and has become part of the country’s modern history
since it first opened in 1967. The hotel has been built over three
phases and it continues to cater to international business
travelers and local clientele alike. Following its acquisition in
2019, the owners envisaged a holistic master-planned approach for
the redevelopment of this unique asset into a distinctive new
offering in the city, embracing its legacy and elevating its
standards for a new era of success.
“The Landmark Nicosia is a symbolic asset for
the city of Nicosia and for Cyprus’ hospitality sector as a whole,”
says Hill Vice President and Managing Director for Southern Europe
Manolis Sigalas. “We are extremely excited to provide Hill’s
services in Cyprus for such a flagship project. We share the
owner’s vision and are committed to working with all project
stakeholders for successfully delivering it and carrying on its
legacy.”
Specifically, the development plan involves
upgrading and modernizing the historic hotel and building a new
mixed-use development of approximately 23,000 SM of gross floor
area on an adjacent plot. The plan will involve the reprogramming
of internal and external areas of the hotel to include new
offerings such as state-of-the-art conference facilities, new
restaurants and bars, a new spa and fitness center, and more. The
reprogramming also entails the reconfiguration of the landscaping,
circulation, and infrastructure strategies for the integrated site.
The new design will adopt sustainability principles and LEED
certification will be targeted for a component of the project.
Working closely with CTDC, Hill will provide
project management services from pre-construction through to the
project’s completion, including design management, carrying out the
construction tender(s) and supervising the execution of works
during construction.
“We are particularly delighted to enter into the
Cypriot market with this significant project,” says Hill Chief
Executive Officer Raouf Ghali. “We plan to bring in our global
expertise, develop local talent, and expand our operational
presence in the country for the years to come. This award is
reflective of our distinctive operational capabilities in Southern
Europe and a great addition to our hospitality and mixed-use
development portfolios.”
About Hill International
Hill International, with approximately 2,700
professionals in more than 60 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 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, and our
expenses may be higher than anticipated. 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
elizabethzipf@hillintl.com
Hill International, Inc. Todd Weintraub Senior
Vice President and Chief Financial Officer (215) 309-7951
toddweintraub@hillintl.com
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