Fletcher Gets $1 Billion for Re-construction Project for Residential Properties in Canterbury

October 14, 2010 / Russell Legato, Residential Property Analyst

The Earthquake Commission’s project management office in New Zealand chose Fletcher Construction Company to supervise the re-building of residential properties and other real estate establishments in Canterbury. The worth $1 billion contract is commissioned to the company to rebuild the properties after the earth quake.

Fletcher Gets $1 Billion for Re-construction Project for Residential Properties in Canterbury

Fletcher Construction will be required to rebuild almost 50,000 moderately or severely damaged establishments and residential properties in the area.

Earthquake Recovery manager Gerry Brownlee said that he is very thankful to all the parties who invested for this vital role. He also congratulated Fletcher Construction for being the chosen bidder to manage the repairs needed for about 50,000 moderate-to-serious-damaged residential properties in Canterbury.

EQC also said that over $100,000 are handled by commercial insurers in agreement by their company’s policies, particularly for the real estate and residential properties in the area.

The Fletcher Construction Company is the top general contractor in the South Pacific and New Zealand. Fletcher Construction has the finest and unparalleled experience across all sides of the construction industry.

A statement from Mark Binns, Executive Chairman and Chief Executive of Fletcher Building’s Infrastructure Division, stated that he is delighted for the confidence EQC has vested in his company to do this nationally significant task.

Binns also said that the company will also evaluate and prioritizes the most affected areas in Canterbury so that they can make the most precise calculation on how many skilled people are required to repair damaged residential properties.

Fletcher Construction’s main role in this project will be managing costs, quality, and momentum.

The Earthquake Commission had paid out about $48m and settled about 2,500 damage claims for real estate and residential properties.

Articles other readers have found interesting...

Top News Stories:

Leave a Reply