January 11, 2008—Hill International, a worldwide construction consulting firm, has entered into an agreement with Makan Capital Group (MCG), a merchant banking and investment management firm, to form a new joint venture company that intends to develop commercial, mixed-use, residential, infrastructure and other projects throughout the Middle East and North Africa.
The new company, to be named Makan Hill International Ltd., will be owned 50% by MCG and 50% by Hill and will be headquartered in Abu Dhabi, United Arab Emirates.
MCG, which is headed by His Highness Prince Abdulaziz bin Fahad bin Abdullah Al Saud, intends to raise a fund targeted at approximately $500 million to invest in projects to be developed by Makan Hill.
Makan Capital Group is a global private equity and investment management firm based in Abu Dhabi. Hill International, with 1,600 employees in 70 offices worldwide, provides program management, project management, construction management, development management and construction claims services. Engineering News-Record magazine recently ranked Hill as the 10th largest construction management firm in the United States.
For more information, visit the Hill International Web site.
