Bei­jing Con­struc­tion En­gi­neer­ing project in Is­rael first for builder from China

Global Times - - Biz Overview -

Bei­jing Con­struc­tion En­gi­neer­ing Group (BCEG) signed a deal with Is­rael-based Carasso Real Es­tate on Mon­day to be the main con­trac­tor of the Neot Ariel Sharon project in Tel Aviv, the first such con­tract for a Chi­nese builder, Xin­hua News Agency re­ported Tues­day.

No con­tract vol­ume is pro­vided in the re­port.

The deal is the start of bi­lat­eral co­op­er­a­tion and also of BCEG’s busi­ness in Is­rael, said Chang Yongchun, vice gen­eral man­ager of BCEG.

“This project will lay a solid foun­da­tion for our long-term co­op­er­a­tion in Is­rael,” Chang said.

BCEG has busi­ness in all parts of China and is ex­pand­ing around the world. The com­pany, which reg­is­tered a branch in Is­rael in March 2017, was des­ig­nated as the top-ranked for­eign con­trac­tor by Is­rael’s Min­istry of Con­struc­tion and Hous­ing in Oc­to­ber 2016.

The project in Tel Aviv will have a to­tal area of 25,000 square me­ters, to be built in six phases. Six res­i­den­tial build­ings will have about 800 apart­ments.

It is the first time for Carasso to co­op­er­ate with a Chi­nese com­pany and it is also the first time for a Chi­nese com­pany to co­op­er­ate with an Is­raeli real es­tate de­vel­oper in the role of main con­trac­tor, said Dan Par­ness, CEO of Carasso Real Es­tate.

The high qual­ity and ef­fi­ciency of Chi­nese con­struc­tion com­pa­nies are im­pres­sive, he added.

“Is­rael has a pros­per­ous real es­tate mar­ket. We look for­ward to the win­win co­op­er­a­tion and broad op­por­tu­ni­ties of the fu­ture with our Chi­nese part­ner,” said Par­ness.

BCEG, es­tab­lished in 1953, has be­come a com­pet­i­tive group in the global mar­ket and is listed among the world's top 250 in­ter­na­tional con­trac­tors. It has the largest over­seas busi­ness among the State-owned con­struc­tion en­ter­prises in Bei­jing.

The new ter­mi­nal of Tan­za­nia's Zanz­ibar In­ter­na­tional Air­port with an ex­pected cost of $128 mil­lion is its first air­port project in a for­eign mar­ket com­bin­ing de­sign, pro­cure­ment and con­struc­tion work, me­dia re­ported in Septem­ber.

Ma­jor over­seas projects it is now build­ing in­clude Manch­ester Air­port City in the UK, the Texas Med­i­cal Cen­ter Ho­tel in the US, the Land­mark Wa­ter­front in Thai­land and the Congo Braz­zav­ille Busi­ness Cen­ter.

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