Lend Lease secures $400m WA contracts
January 19, 2010
Lend Lease Group (LLC) this morning said it had snared the development rights the 710 hectare Alkimos community development, 40kms north of Perth. Lend Lease said the agreement with the West Australian government’s Landcorp, would see the first stage alone take seven years to build 2,500 homes with a value of over $400 million.
The company said the final development would take nearly 20 years to complete with around 10,000 new dwellings.
Lend Lease said it expected to invest $20 million to establish the project.
Lend Lease CEO and managing director, Steve McCann said he was delighted to secure the project.
“Lend Lease brings an enviable track record for partnering with governments and landowners to deliver master planned communities that lead the way in community creation,” Mr McCann said.
The company said it expected to take up to three months to finalise the contract.
At the close of business Tuesday, Lend Lease shares were trading at $9.47.
The company said the final development would take nearly 20 years to complete with around 10,000 new dwellings.
Lend Lease said it expected to invest $20 million to establish the project.
Lend Lease CEO and managing director, Steve McCann said he was delighted to secure the project.
“Lend Lease brings an enviable track record for partnering with governments and landowners to deliver master planned communities that lead the way in community creation,” Mr McCann said.
The company said it expected to take up to three months to finalise the contract.
At the close of business Tuesday, Lend Lease shares were trading at $9.47.
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