Australia’s Lendlease Group announced its focused strategy for the coming months which includes exiting its overseas construction business and accelerating payments from its offshore development projects and assets to recycle $4.04b of capital.
Lendlease said these leverage the company’s competitive strengths and simplify the business to enhance its integrated real estate business in Australia with international investment management capabilities. The company will also work on lowering cost base, with an annual target of $112.34m pre-tax savings, to be achieved within 12 months and additional opportunities to follow
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