Lend Lease Corp., Australia’s biggest property developer, slumped the most in more than four years in Sydney trading after the company said that earnings from its Australian and European construction businesses fell.
Lend Lease Group, Australia’s biggest listed property developer, will start building the third office tower at its A$6 billion ($5.6 billion) Sydney harbor- front development after signing PricewaterhouseCoopers LLP and HSBC Holdings Plc as tenants.
Lend Lease Group, Australia’s biggest developer, said it expects a 45 percent profit boost this fiscal year after selling its stake in the Bluewater Shopping Center in the U.K. for 696 million pounds ($1.2 billion).
Lend Lease Group, Australia’s biggest developer, fell by the most in four months after forecasting new provisions and saying profit growth this year will be driven by one-time proceeds from the sale of a U.K. shopping center.
Lend Lease Group, Australia’s biggest property developer, posted a 3.8 percent drop in first- half profit after sales in Europe and the U.S. declined and said it is in due diligence with potential partners on the funding of its Barangaroo project in Sydney.
Lend Lease Group , Australia’s largest developer, said it’s in talks with Bilfinger Berger SE to buy Valemus Ltd. , five months after the German construction company aborted an initial share sale of its Australian unit.
Lend Lease Group, Australia’s largest listed property developer, reported a 10 percent rise in full-year profit driven by its central Sydney Barangaroo redevelopment and fees from infrastructure projects.
Lend Lease Group, Australia’s biggest property developer, signed agreements with Westpac Banking Corp. and KPMG LLP to lease 71 percent of space in the first two office towers at its Barangaroo South financial precinct in Sydney.