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Mace confirms selection for £129m King's Reach job

Mace has confirmed it has won an £129 million contract for the King’s Reach tower development in London’s South Bank.

As exclusively revealed by CN in September, it marks a move from pre-construction adviser to main contractor for developer CIT, with the project expected to complete in late 2015.

The current design will become a mixed use development with five additional floors, increasing the existing tower structure to 36 floors.

The tower will have 173 high end luxury apartments along with commercial office and retail units.

Nick Moore, executive director at Mace, said: “The team face the challenge of redeveloping the building in a densely populated, residential area but are looking forward to delivering to the high standards that CIT come to expect from us.”

CIT secured a £250 million financing deal with Middle Eastern investors, led by ABC International Bank and Saudi-based Mohamed Al Subeaei & Sons Investment Company, in September.

MASIC’s involvement as the largest financier to the scheme marks its entry into the UK market.

 

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