Aussie developer has big plans for Paya Lebar site

Aussie developer has big plans for Paya Lebar site
Mr Rod Leaver, Lend Lease’s chief executive in Asia, also hopes to expand the firm’s presence in China, Japan and Malaysia.

A massive mixed-use site in Paya Lebar Central is set to showcase Lend Lease's urban renewal strengths, according to Mr Rod Leaver, the Australian property giant's chief executive in Asia.

"We have many construction projects, in the life sciences and education sectors for example, with strong sustainability outcomes for our clients," he said.

"But where we make the biggest impact is when we have our own large-scale developments," he told The Straits Times in an interview earlier this month. "Thinking about urban regeneration, at scale, is for Lend Lease the opportunity in Singapore."

The developer of 313@Somerset and Jem in Singapore is developing Barangaroo South in Sydney, part of a 22ha former industrial site near the city. The precinct will have about 5.27 million sq ft of mixed-use gross floor area. Already, HSBC Holdings and PricewaterhouseCoopers have signed leases.

In Central London, in a tie-up with Southwark Council, the firm is developing three sites on 11.33ha in Elephant & Castle, in a £1.5 billion (S$3.1 billion) regeneration plan to add 3,000 new homes and 200,000 sq ft of mixed-use space.

He said: "Each of the regions in our international business is strongly pursuing the integrated model, looking at urban regeneration and pursuing opportunities to work with governments."

The firm's integrated model covers the full property value chain from funding to managing projects, including design, development, construction and investment management.

Lend Lease Group's business in Asia contributed A$156.3 million (S$165 million) in revenue for the half-year to Dec 31 last year. Australia led with A$3.34 billion in revenue, followed by A$1.72 billion in the Americas and A$682.9 million in Europe.

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