Balfour Beatty wins £193m Miami development contract

International infrastructure group Balfour Beatty has been awarded a $260m (£193m) contract to build the River Landing Shops and Residences project in Miami for real-estate investment trust H&R REIT and Urbanx Company, it announced on Wednesday, in association with long-standing client, real estate developer Matthews Southwest.

The FTSE 250 firm said the mixed-use project is located on 8.1 acres along the Miami River, and will feature more than two million square feet of retail and residences in Miami's Civic Centre.

It will include two residential buildings, which will contain 475 rental apartments and a five-storey shopping centre.

“This transformational development in the heart of Miami builds on Balfour Beatty's historical and growing relationship with Matthews Southwest as we expand on our presence in the South Florida market,” said group chief executive Leo Quinn.

Construction is expected to begin in late 2017 and was scheduled for completion in the fourth quarter of 2019.

At its peak, the project will employ a team of around 750.