Skanska team scoops $3.6bn LaGuardia redevelopment

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Skanska team scoops $3.6bn LaGuardia redevelopment

A team that includes Skanska and Parsons Brinckerhoff has been selected by the Port Authority of New York & New Jersey as preferred bidder for the terminal replacement at LaGuardia Airport.

The total value of the construction contract is estimated by the Port Authority to be about US$3.6bn (£2.35bn).

The public-private partnership contract includes taking over operations of the existing central terminal building and designing, building, financing, operating and maintaining a new replacement terminal.

LaGuardia Gateway Partners made up of Vantage Airport Group, Skanska and Meridiam for development and equity investment; Skanska and Walsh Construction as the construction joint venture; HOK and Parsons Brinckerhoff as the design joint venture; and Vantage Airport Group for management of the operations. The team will now enter into negotiation with the client in order to finalise the lease agreement and begin the process of achieving commercial and financial close.

Skanska’s share of the equity investment will be up to 40% and its share of the construction contract is 70%, which will be divided between Skanska USA Building and Skanska USA Civil. Financial close, is expected to be in 2016, with construction beginning straight afterwards

Source: The Construction Index

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.