Orascom wins $245m student housing contract in Texas

Orascom Construction has said that a United States-based subsidiary, Weitz Company, has won a $245 million contract to build a student housing project at Texas A&M University.

The complex in College Station will be the biggest student facility in the US, housing more than 3,402 students. Covering 1.8 million square feet, the building will also contain retail and office space, as well as an eight-storey car park.

“Weitz has increased its focus on larger contracts and the award of this project is testament to this strategy’s success,” said Osama Bishai, the chief executive of Orascom.

Len Martling, the president and chief executive of Weitz, added: “The company is honoured to be selected as the design-builder on this very exciting project that will have a substantial impact on the footprint of the Texas A&M University campus.

“Weitz has a reputation for quality building, as well as the ability to plan and execute multi-faceted projects, like Park West. Our team looks forward to continuing that reputation with our work for Texas A&M.”

Orascom was listed on Nasdaq Dubai in March following a demerger from its former parent, OCI NV.

The company, which has a market capitalisation of $1.5 billion, also has a dual listing on the Egyptian Stock Exchange.


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