Beijing Construction Engineering project in Israel first for builder from China
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.