Balfour Beatty JV wins Project in HK

expat network

Balfour Beatty JV wins Project in HK

Balfour Beatty, the international infrastructure group, today announces that its joint venture, Gammon Construction, has won a HK$3.2 billion (c.£270 million) contract to build a major residential development building in Hong Kong.

The project in Tsuen Wan, Hong Kong includes constructing seven residential towers, ranging from 12 to 40 stories, as well as retail and recreational facilities. The total construction floor area is 112,000m2. Upon completion, scheduled for 2018, the development will provide around 900 residential apartments. The project also involves building a public transport interchange and five footbridges. Chinachem Group developed the project, and the contract is with TW5 Cityside Property Development.

Leo Quinn, Balfour Beatty Group 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.”

Source: EPC Engineer

Link: http://tinyurl.com/kjozmey

Moving Abroad Checklist

Initial Considerations

Will your partner be travelling with you?

If so, what will they be giving up in your present home and will they be able to continue with their career in your new home? You will need to check whether a separate visa is required for your partner to work or if your visa gives that right. If they are unable to work you will need to decide on the effect on your finances and what alternatives are available to give a fulfilling life (home business, training, voluntary work).

Are you taking family with you?

Moving with family raises many exciting opportunities, but also can create challenges. The HSBC Expat Explorer survey indicates that expat kids can take six months to settle in to their new country (see article). Getting young or even older children to prepare to move and leave their friends and family behind can be a challenge and should be thought through.

The options for education is another area that needs to be thought through.

Moving your child to a new country with a different education system can be a great opportunity to broaden their experience, but if they are close to key exams the timing can make this inadvisable. If you do take your family with you, it is important to decide between joining the local school system or choosing an international school.

Where will you be living?

Whether you will be living in a house or apartment, furnished or unfurnished, these decisions will affect what you need to take with you. The time you are planning to live overseas will also affect whether you should leave your property at home empty, rent it out or sell it. See the article Sell, Store or Ship.