The Dutch consultancy Arcadis says it has won a five-year contract as manager of HSBC’s global capital expenditure programme.

HSBC’s current property portfolio exceeds 50 million square feet, with Arcadis now responsible for the oversight, assurance, planning and control of capital projects.

Its target will be to keep cost in check, improve performance, control risk and reduce HSBC’s environmental impact in a sustainable manner, Arcadis said in a statement.

Arcadis will also be the primary service provider for project management, cost management, health and safety, sustainability and risk management of capital projects in Europe, the Middle East and Asia-Pacific.

“Our ambition is to help HSBC transform its capital expenditure delivery in order to create sustainable competitive advantage for its business. Our teams will deliver the consistency and assurance of outcome that HSBC can rely on to enable it to succeed,” said David Sparrow, global director of Arcadis’ multinational client program.

Earlier this year Arcadis was appointed by Lloyds Banking Group to run its design and construction functions.