LONDON, March 3 /PRNewswire/ --

- Value of Successful PFI Projects Completed by Kajima Now Totals in Excess of GBP300m

Kajima, the property development and investment company, today (3rd March) announces the completion of its GBP25 million Newcastle Libraries PFI project.

The centerpiece of this project, the new Newcastle City Library, will open to the public in June this year. Built on the site of the former library by Princess Square it extends to some 8,000m2 and includes a 180-seat performance space, displays of local heritage treasures, a creche, a cafe, an internet information hub and meeting rooms for community groups.

The Kajima consortium includes Ryder Architecture, Tolent Construction who successfully met a tight construction timetable and Integral UK who will manage the building for the next twenty-five years.

Poet Laureate Andrew Motion will be the guest of honour at today's completion ceremony, joining the Lord Mayor of Newcastle, Councillor David Wood, Council Leader John Shipley and Councillor Pauline Allen.

Morton Corbitt, Head of Development, Kajima Partnerships Limited, said: This project reflects the continuing Kajima tradition of award winning PFI design delivered on time and to budget. Kajima Partnerships is proud to contribute such an outstanding civic building that will prove to be a great asset for the City of Newcastle over the coming years serving as both a civic landmark and a community meeting place. It's design is inspiring and welcoming, encouraging people to visit and enjoy that experience. We hope this will prove to be a benchmark model for 21st century library facilities.

Councillor Pauline Allen, Newcastle City Council's Executive Member for Culture, Leisure and Customer Services, said: Now that the building work is over everyone can see what an absolutely remarkable and striking building City Library is. We think people will be even more excited and proud when they see what's inside and the hard work starts now getting things ready for the library's official opening in June.

Notes to Editors

About Kajima

Kajima is the UK subsidiary of Kajima Corporation, one of the world's oldest and largest property companies with an annual turnover of GBP10 billion. The company is committed to delivering outstanding buildings and services to public and private sector bodies alike.

Kajima works in partnership with the public sector to deliver and manage exceptional buildings in the fields of education, healthcare, offices and infrastructure. The company manages the whole development process, from the design and planning of the building to its construction and effective operation for the people who will work in it. By working closely with our clients and partners to produce high quality results, we have earned a reputation for our consistent attention to detail.

Kajima is dedicated to building communities. Each project delivers first-class facilities and is designed to deliver valuable assets for local people. Kajima is committed to its buildings for the long-term, and will manage each for 25 years or more.

The company also focuses on property development in the private sector, collaborating with its blue-chip clients to develop, invest and retain equity in prime locations throughout the UK. It maintains a portfolio of first-class properties in London

For further information, please contact: Sara Brigden, The Communication Group PLC +44(0)207-630-1411

For further information, please contact: Sara Brigden, The Communication Group PLC +44(0)207-630-1411