The first phase, with an estimated cost of $1.2 billion and 2010 completion date, will include 1,366 residences, a 40-acre man-made lake and two island venues that will have a spa and other types of recreation facilities. Future phases will include more residences, two hotels, shops, restaurants and a 27-hole golf course, among other amenities.
Earlier this month, Marlton, NJ-based Hill was awarded a $42 million contract to expand Al Fateh University in Tripoli, Libya. Also in October, it was given $17.5 million of work in Iraq. The firm launched a real estate development arm in September and is building the 2.2 million-sf American Commerce Center office and hotel tower in Philadelphia.
Punta Cana has had a lot of development activity as of late. In April, Fairmont Hotels & Resorts announced that it will build a 255-room hotel and multifamily homes at the 2,700-acre Roco Ki residential and resort community now under construction.
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