The Business Times
business-time-50
TOPLINE
·
SUBSCRIBERS

Lendlease hunkers down amid headwinds, seeks ‘selective’ growth opportunities

Justin Gabbani, Asia CEO of Lendlease Group, eyes opportunities to deploy partnered funds for data centres and life science builds

google-preferred-sourceAdd BT as a preferred source
Elysia Tan

Elysia Tan

Published Mon, Oct 23, 2023 · 05:00 AM
    • Lendlease Asia CEO Justin Gabbani points out that Lendlease has increasingly shifted – in the last five to six years – from white-site developments to redevelopments.
    • Lendlease Asia CEO Justin Gabbani points out that Lendlease has increasingly shifted – in the last five to six years – from white-site developments to redevelopments. PHOTO: LENDLEASE

    DeeperDive is a beta AI feature. Refer to full articles for the facts.

    THE year 2023 was meant to be a special one for Lendlease Group, as the Australian Securities Exchange-listed construction and real estate company celebrates 50 years since it expanded its operations into Singapore. But the group has found little reason for cheer.

    Lendlease reported a statutory loss after tax of A$232 million (S$201 million) for the full year ended June, deepening from a loss of A$99 million the year before.

    This was mainly due to the recording of a A$295 million provision on a retrospective, industry-wide action by the United Kingdom government.

    Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.

    ToplineLendleaselendlease global reitS-ReitsData centresLife sciences

    Copyright SPH Media. All rights reserved.

    Reuse this contentFeedback

    TRENDING NOW

    In this economy, the smartest bets might no longer be sitting an ocean away, but are waiting right here at home.

    ‘Boring’ is the new black: The stars are aligning for a Singapore stock market revival

    Sales have rebounded in March after the year-end lull and seasonal Chinese New Year pullback.

    Near sell-out launches in March boost developer sales to 1,300 units after four slow months

    US President Donald Trump (left) with Chinese President Xi Jinping at a bilateral meeting on the sidelines of the Apec summit in Busan last October.

    China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result

    Lim's pay package includes about S$3.6 million as salary and around S$3.9 million as bonus, indicates the company's annual report.

    Genting Singapore’s Lim Kok Thay receives S$7.5 million pay package for FY2025

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More