Jacobs' Halcrow Signs Consultancy Deal With CEDD in Hong Kong

Group 1: Joint Venture and Project Overview - The joint venture between Jacobs Solutions Inc.'s subsidiary Halcrow and AECOM has entered into a consultancy agreement with the Civil Engineering and Development Department of the Hong Kong government for the San Tin Technopole project [1] - The first phase of the San Tin Technopole involves the development of 250 hectares of land to support innovation, technology, housing, and commercial facilities, with a focus on low-carbon infrastructure and digital strategies [1][2] - The project is expected to provide approximately 54,000 new housing units upon completion, with the first population and business intake anticipated in 2031 [2] Group 2: Jacobs Solutions Performance - Jacobs has seen increased demand for its consulting services across various sectors, leading to a backlog growth from $28.9 billion to$30.6 billion year-over-year [3] - The backlog for Jacobs' People & Places Solutions (P&PS) segment grew from $17.5 billion to$19.28 billion, driven by growth in the Life Sciences and Energy markets [3] - The Critical Mission Solutions backlog also increased from $8.1 billion to$8.45 billion, supported by expansion in the U.K. and U.S. nuclear remediation markets [4] Group 3: Market Trends and Company Outlook - Jacobs' shares have increased by 9.1% over the past three months, outperforming the Zacks Technology Services industry's growth of 4.6% [4] - The company is expected to benefit from global trends in infrastructure modernization, energy transition, national security, and potential super-cycle investments in global supply chains [4] - AECOM has reported solid third-quarter fiscal 2024 results, with earnings exceeding estimates and growth in net service revenues across its segments [6]