Multiplex secures $338m London Wall construction contract

Core Insights - Multiplex has secured a principal construction contract valued at over £250m ($338m) for the redevelopment of 75 London Wall in the City of London, in collaboration with Gamuda Berhad and Castleforge [1][2] - The project aims to create over 450,000 square feet of Grade A workspace, addressing the current supply constraints in the City of London [2][3] - The redevelopment project is part of a £1.2bn initiative, with practical completion expected in the first quarter of 2028 [2][4] Company and Project Details - Gamuda Land UK is focused on expanding its presence in the UK market, with this contract being a significant milestone in unlocking long-term value from prime assets [1][2] - The design of the project is led by Orms, with sustainability targets including BREEAM Outstanding, WELL Core Platinum, and NABERS UK 5* Design for Performance certifications [3] - The construction contract follows a year of pre-construction services by Multiplex, which included project planning and design [4][5] Market Context - The project is positioned to provide much-needed, high-quality office space at a time when London is experiencing its lowest level of office construction starts in nearly two decades [4] - The redevelopment of 75 London Wall is seen as a response to the acute supply constraints in the market for sustainable office spaces [2][4]