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Building spaces that enrich lives
LENDLEASE'S largest project to date in Singapore is Paya Lebar Quarter (PLQ), an approximately S$3.7 billion urban regeneration development that is also home to the company's new Asia headquarters. PLQ alone represents a sizable percentage of the group's global urban regeneration pipeline of approximately A$81.2 billion (S$76.2 billion)1.
Sited 10 minutes away from the central business district, PLQ will be a mixed-use development and a key catalyst to the government's master plan to transform Paya Lebar into a regional business hub.
The development will comprise close to one million square feet of next-generation work spaces in three grade A towers, as well as a standalone shopping mall with a total retail area of 340,000 square feet with over 200 shops. There will also be a 429-unit residential development and a range of indoor and alfresco dining options set in green public spaces of over 100,000 square feet.
PLQ is home to Lendlease's first flexible workplace solution in the world, csuites. The workspace combines the benefits of premier corporate offices such as technology integration, privacy and security with the advantages of shared services and collaborative co-working spaces.
Tony Lombardo, CEO of Lendlease Asia, says: "csuites offers companies the flexibility of shorter leases, seamless move-in experience and sustainability credentials, while enabling them to retain their own culture and identity".
A Singapore story
Lendlease's ties to Singapore go back to 1973, when it won the first ever international tender by the Housing & Development Board (HDB). The project was among the first buildings in Singapore to use steel form-work instead of timber to guide concrete pouring, saving time and manpower. Each floor took only four days to complete, and the company finished all 30 buildings within a record 40 months. As a result, Lendlease won another bid for 5,000 flats, which was completed on time again.
"This was a very important project for us - giving us a taste for the tropics, the people, and more than anything else, an ideal environment to make a home here for ourselves as a business," says Mr Lombardo.
"From our humble beginnings, Singapore is now our Asia headquarters. Since then, we have created some 400 projects in Singapore from educational facilities to life science projects, industrial buildings, shopping malls to warehouses."
With its growing presence in Singapore over the years, Lendlease has sought to give back through numerous community projects here. For instance, in May, its annual iftar was held for the fourth consecutive year, which seeks to recognise the hard work of migrant workers behind the construction of PLQ, especially those of the Muslim faith. This year was the first time it was open to members of the public, who had a chance to interact with the migrant workers while dining on the communal meal served by senior Lendlease executives.
Global brand with local flavour
Lendlease is leveraging technology and sustainable practices to meet growing demand for quality public infrastructure as the relentless march of urbanisation continues around the world.
With operations in Australia, Asia, Europe and the Americas, the Sydney-headquartered company's bold vision is to create the best places; places that inspire and enrich the lives of people around the world. To achieve this, it pursues an integrated model which focuses on three operating segments - development, construction, and investment - across a diversified portfolio.
"This strategic approach is driven by understanding our customers, and underpinned by our financial strength and ability to work alongside our investment partners. Applying this approach in a disciplined manner has enabled us to become a leading international property and infrastructure group known, respected and trusted in the markets in which we operate," says Mr Lombardo.
"We continue to drive forward, constantly increasing productivity, and utilising technological advancements and sustainable practices to maintain our competitive advantage," he adds.
Based in Singapore, Mr Lombardo took on his current role as CEO of Asia in May 2016. He joined Lendlease in July 2007 as Group Head of Strategy and Mergers & Acquisitions (M&A), and was most recently Group Chief Financial Officer based in Sydney.
Lendlease's comprehensive capabilities allow it to originate, fund, build, deliver and manage major urbanisation and critical infrastructure projects. "We aim to create safe, healthy and sustainable places for our customers and the communities we serve. This helps to enhance and strengthen the key cities we work in and builds trust and reputation with our partners," he explains.
As a global organisation, Lendlease also strives to deliver long-term sustainable value for its investors and become an employer of choice for its people. The group has around 9,000 employees internationally in its core business2.
Reflecting the success of its strategy, Lendlease's total development pipeline is approaching A$100 billion, including 80 per cent from urbanisation projects, as of its latest published annual report. This follows the recent announcement in July that Lendlease would redevelop Google's landholdings near its headquarters in the San Francisco Bay Area, including building 15,000 new homes.
In terms of regions, Asia (excluding Australia) ranks ahead of the Americas in terms of its development Ebitda and our development pipeline, and continues to grow steadily. Asia is also the second-largest backlog revenue for the company's construction business, and the second-largest region for funds under management, both just behind Australia.
Apart from working on several landmark urban regeneration projects in Asia, Lendlease also maintains specialist capabilities for pharmaceutical and telecommunications projects in the region. It has delivered more than 75,000 telecommunications towers over the last 17 years.
1 Includes the San Francisco Bay Area project c. $20 billion secured post balance date June 30, 2019.
2 Excludes Engineering and services.
Breaking new ground: Paya Lebar quarter
- Paya Lebar Quarter (PLQ), an approximately S$3.7 billion urban regeneration project, is Lendlease's largest in Singapore to date and also home to the company's new Asia headquarters.
- The three office towers of PLQ are the first in Singapore to register for the WELL Core and Shell certification, a global building assessment focused solely on the health and wellbeing of occupants.
- Both PLQ offices and mall are also the first to achieve the BCA Green Mark award for Non- Residential Buildings 2015.
- PLQ is also the first private mixed-use project to be certified for the Public Utilities Board's Active, Beautiful and Clean (ABC) Waters, due to the project's innovative water feature landmark in the public realm.