Balfour Beatty has been selected to construct and manage 4,761 new homes for the American military in a $470 million (£293.4 million) deal announced by the United States Air Force.

The Air Force said Balfour Beatty Communities has been selected as the preferred bidder for a 50-year project to deliver the long-term development and management of housing units at six Air Force bases.

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The announcement broadens the geographic presence of Balfour Beatty Communities throughout the US and increases the Group’s military housing footprint to 53 military installations in 25 states and Washington DC.

Balfour Beatty Construction US will build the new homes at bases in North Dakota, South Dakota, Idaho and New Mexico by 2018, with the ongoing maintenance of the properties managed by Balfour Beatty Communities.

Balfour Beatty Chief Executive, Ian Tyler, said: "We are delighted to have been selected on such a prestigious project. Balfour Beatty Communities continues to lead in the US PPP military accommodation market with a high quality portfolio of ongoing concessions."

(CD)