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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

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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

    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.

    ToplineLendleaselendlease global reitS-ReitsData centresLife sciences

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