Companies controlled by billionaires James Packer and Cheng Yu-tung have lodged bids to develop casinos in Australia’s Queensland state, as the state government plans to lure Asian tourists with new resorts.
Bouygues SA, the construction and media conglomerate led by Martin Bouygues, and Lend Lease Group, Australia’s biggest listed developer, are set to design and build a A$3 billion ($2.7 billion) Sydney road project.
Greenland Holding Group Co. likens its downtown Sydney luxury development to a “diamond in the sky” with floor-to-ceiling windows offering 360-degree views of the city. That’s a far cry from the 50-year-old concrete government office building from which the new tower will morph.
Lend Lease Group, Australia’s biggest listed property developer, fell by the most in two weeks after a fire forced work to halt at its A$6 billion ($5.4 billion) Barangaroo South development on Sydney’s harbor.
Lend Lease Group, Australia’s biggest listed developer, said first-half profit fell amid challenging construction markets in Australia and the U.K. and after last year’s one-time boost from a Sydney redevelopment.
Anglo American Plc’s decision to quit plans for a coal port expansion in Australia leaves Indian billionaires G.V. Krishna Reddy and Gautam Adani as the last major investors left looking at extending the terminal.
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.