Lendlease to accelerate development production over the next five years

Lendlease has plans to accelerate development production over the next five years while also scaling up its investments, reported The Urban Developer.

The firm has aims to increase its average development production and exposure to $8 billion. The property group’s development activity has averaged $4.3 billion annually in recent years.

Lendlease posted a statutory net loss of $310 million for 2019–2020 after spending $368 million on the planned exit from its engineering division. The company said its core business reported a net profit of $96 million.