Contractor will build seven-tower residential complex

China

A Balfour Beatty joint venture has won a HK$3.2bn (拢270m) contract to build a major residential development in Hong Kong.

The firm, in joint venture with Gammon Construction, will build seven residential towers in the Tsuen Wan area of the city, ranging from 12 to 40 storeys tall.

The total construction floor area is 112,000m2. Upon completion, scheduled for 2018, the development will provide around 900 residential apartments.

Leo Quinn, Balfour Beatty chief executive, said: 鈥淭his project reflects the continuous growth in the residential market across Hong Kong.

鈥淭he 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.鈥�

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