Lendlease

What Lendlease does

Lendlease Corporation is a Sydney-headquartered, ASX-listed multinational real estate and infrastructure company founded in 1958, operating three integrated capabilities: Investment Management, Development, and Construction. The Investment Management platform manages funds and mandates across build-to-rent, workplace, industrial, and retail sectors for institutional capital partners including superannuation funds and sovereign wealth funds; notable vehicles include the Lendlease Global Commercial REIT (Singapore-listed, ~S$3.9bn AUM after the PLQ Mall acquisition) and Australian Prime Property Fund. Development operations span urban regeneration, residential, commercial, and data centre projects, with notable assets including Salesforce Tower Sydney (6 Star Green Star certified), Elephant Park in London, Powerhouse Parramatta, and the South Brisbane riverfront precinct. Construction services cover aviation, commercial, defence, education, health, and metro infrastructure across Australia.

The company serves three primary customer segments: institutional investors (recurring fee revenue from fund mandates), government bodies (project-based revenue from urban regeneration, social housing, and public-private partnerships such as Sydney Metro Martin Place), and commercial tenants (workspace with sustainability credentials). Revenue is generated through four streams: investment management fees (recurring), development profit on built assets, construction contracts (project-based), and capital recycling (one-off asset divestment proceeds). Modular construction and net-zero carbon building practices (targeting Net Zero Carbon by 2025 for Scope 1 and 2) are stated capability differentiators.

Lendlease is currently executing a material strategic restructuring, divesting international operations (UK construction sold to Atlas Holdings, Malaysian and UK asset sales) and pivoting toward a capital-light, fee-generating model. The Capital Release Unit has completed or announced A$2.8 billion in asset exits including the Keyton Retirement Living Trust (A$525m), The Exchange TRX in Kuala Lumpur (A$400m to Valiram), the Crown Estate 50/50 UK development JV (£24bn GDV), and the KPC Group joint venture for Oceanwide Plaza in Los Angeles ($470m). Recent leadership changes include the appointment of Penny Ransom as CEO Investment Management effective July 2026, the departure of CEO Development Tom Mackellar to AirTrunk, and the termination of the 68-year audit relationship with KPMG Australia following a data leak scandal. The company reported a H1 FY2026 statutory loss of AUD 318 million with IDC segment EBITDA declining from AUD 341 million to AUD 204 million, while the Construction segment delivered 22% revenue growth in the same period.

Name

Lendlease

Legal name

Lendlease Corporation

Website

https://lendlease.com

Company type

Public

Founded year

1958

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Lendlease is a Sydney-headquartered, ASX-listed multinational real estate company operating integrated Investment Management, Development, and Construction capabilities. It serves institutional investors, government bodies, and commercial tenants across Australia, the UK, Singapore, and the US with urban regeneration, infrastructure, and sustainability-focused projects.

Ownership category

akta.pro rank

Product category

Real Estate Development and Investment

NAICS

Funds, Trusts, and Other Financial Vehicles (525)

SIC

Real Estate Dealers (For Their Own Account) (6532)

akta.pro primary industry

Real Estate Capital Markets Advisory (Debt/Equity Placement, Refinancing) (BPAJANAE)

Keywords

• Real estate development
• Property investment management
• Construction services
• Urban regeneration
• Build to rent

Headquarters

HQ city

Sydney

HQ country

Australia

HQ region

Oceania

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Supply Chain, Operations, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Investment Management Fees: Fee-generating model from managing investment funds and mandates for institutional investors including superannuation funds, sovereign wealth funds, and global investors. Revenue from fund management, performance fees, and transaction fees.
2. Development Profit: Revenue from developing and selling or retaining interests in residential, commercial, and mixed-use properties. Includes urban regeneration projects, build-to-rent developments, and data centre developments.
3. Construction Contracts: Revenue from construction services including commercial, infrastructure, defence, education, health, and aviation projects. Construction segment showed 22% revenue growth in H1 FY2026.
4. Capital Recycling: Strategic divestment of assets and stakes to generate cash inflows and reduce gearing. Completed or announced $2.8 billion in asset exits including Keyton Retirement Living Trust (25% stake for A$525m), Malaysian TRX assets, UK assets, and Crown Estate joint venture.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Lendlease is a real estate company operating three integrated capabilities: Investment Management (managing funds, mandates, and real estate investment trusts including the Australian Prime Property Fund and Lendlease Global Commercial REIT); Development (city-shaping precincts across residential, urban retail, urban regeneration, and data centres); and Construction (aviation, commercial, defence, education, health and scientific research, metro stations, and sport and cultural precincts). The company delivers end-to-end urban regeneration projects for institutional investors and government partners.

Product overview

Lendlease is a multinational real estate company operating three core capabilities: Investment Management, Development, and Construction. The Investment Management platform manages funds and mandates across build-to-rent, workplace, industrial, and retail sectors globally. Development operations create sustainable precincts and buildings through residential, urban retail, urban regeneration, and data centre projects. Construction services span aviation, commercial, defence, education, health and scientific research, metro stations, and sport and cultural precincts. The company also operates Lendlease Global Commercial REIT (Singapore-listed) and Australian Prime Property Fund Commercial, managing assets including PLQ Mall, Salesforce Tower Sydney, Elephant Park, Powerhouse Parramatta, and the South Brisbane Riverfront Redevelopment project.

Differentiator

Problem solved

Functional benefit

Brands

• Australian Prime Property Fund (APPF): Lendlease-managed real estate investment funds covering retail and commercial sectors in Australia.
• Lendlease Global Commercial Reit

Products and services

• Investment Management Active international investment management platform delivering performance for investors across funds, mandates, and multiple real estate sectors including build-to-rent, workplace, industrial, and retail. For institutional investors including superannuation funds, sovereign wealth funds, and global investors.
• Development City shaping development operations creating sustainable precincts and buildings across residential, urban retail, urban regeneration, and data centre sectors. For institutional capital partners, government bodies, and commercial tenants.
• Construction Australia's trusted construction partner offering services across aviation, commercial, defence, education, health and scientific research, metro stations, and sport and cultural precincts. For government and private sector clients via competitive tendering.
• Data Centres Data centre development services exploring AI infrastructure opportunities, positioning Australia as a potential leader in AI infrastructure development. For institutional and technology sector clients.
• Build to Rent Investment management capability focused on build-to-rent residential developments, offering institutional investors exposure to this growing real estate sector. For institutional investors and renters.
• Australian Prime Property Fund Commercial (APPF Commercial) Lendlease-managed fund focused on commercial office assets in Australia's CBD markets, particularly Sydney. For institutional investors.
• Lendlease Global Commercial REIT Singapore Exchange-listed REIT focused on suburban retail and commercial properties, with total asset value of approximately S$3.9 billion. For REIT investors.
• PLQ Mall Suburban retail mall in Singapore in which Lendlease REIT acquired a 70% interest for S$885 million. For retail tenants and shoppers.
• Salesforce Tower Sydney Australia's tallest office building at 263 meters, developed and constructed by Lendlease within Sydney Place development at Circular Quay. Awarded 6 Star Green Star rating. For commercial tenants.
• Elephant Park Urban regeneration project in Southwark, London transforming the former Heygate Estate into a connected and liveable community with new homes, parks, and diverse housing options. For residential buyers, renters, and community stakeholders.
• Powerhouse Parramatta $915 million museum in Parramatta, NSW constructed by Lendlease, featuring seven expansive spaces including an 18-metre high gallery and public rooftop garden. For cultural precinct visitors.
• South Brisbane Riverfront Precinct 7.1-hectare mixed-use riverfront redevelopment in South Brisbane featuring 4,000+ new homes, riverfront promenades, boardwalks, plazas, and parkland. For residential buyers, renters, commercial tenants, and the Queensland Government.
• Crown Estate UK Joint Venture Development Programme 50/50 joint venture with The Crown Estate for UK development delivering up to £24 billion gross development value, including approximately 26,000 new homes, 10 million sq ft of workspace, and 100,000+ new jobs across six schemes in London and Birmingham. For The Crown Estate and UK housing and commercial markets.

Quantifiable outcome

• Crown Estate joint venture to deliver 26,000 homes, 10 million sq ft commercial space, and 100,000+ jobs
• +3 more outcomes

Named customers8 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Eight partnerships are on record, tiered minor, major, strategic, core and flagship.

• KPMG AustraliaminorOthers · 16 June 202668-year audit relationship with KPMG Australia (since 1959) worth approximately A$10 million annually was terminated following scandal involving misuse of Lendlease's confidential board documents.
• 313@Somerset MallminorStrategic or Co-development Partner · 29 April 2026Lendlease operates 313@Somerset mall in Singapore, managing the retail property where a vandalism incident occurred at Chimi's restaurant.
• Macquarie CapitalmajorStrategic or Co-development Partner · 12 March 2026Public-private partnership for Sydney Metro Martin Place station development, with Macquarie Capital as sole proponent and developer alongside Lendlease as construction partner. Project includes metro station, two commercial towers, retail, and pedestrian tunnel.
• KPC GroupmajorStrategic or Co-development Partner · 23 February 2026Joint venture to acquire Oceanwide Plaza (Graffiti Towers) in Los Angeles for $470 million, with KPC Group serving as developer and Lendlease as equity partner. Additional $800 million earmarked for renovation completion ahead of 2028 Olympics.
• AirTrunkminorOthers · 3 February 2026AirTrunk, a Blackstone-owned data centre operator, hired Tom Mackellar from Lendlease to lead its Asia Pacific expansion. Mackellar spent 18 years at Lendlease, most recently as CEO Development.
• PsiQuantumstrategicStrategic or Co-development Partner · 1 January 2026Partnership with Australian Federal Government and Queensland State Government to build world's first utility-scale fault-tolerant quantum computer in Brisbane. Lendlease leads construction and engineering, with Jacobs as engineering partner and Linde Engineering contracted for cryoplant system.
• Singapore Retail TenantscoreChannel Partner/ Reseller/ Distributor · 30 December 2025Lendlease operates retail properties in Singapore (including 313@Somerset) and collaborates with retail and entertainment tenants to adapt to challenging economic conditions and changing consumer behaviors.
• The Crown EstateflagshipStrategic or Co-development Partner · 19 May 2025Landmark 50/50 joint venture for UK development unlocking £24 billion in gross development value across six schemes in London and Birmingham. Partnership will deliver approximately 26,000 new homes, 10 million square feet of workspace, and 100,000+ new jobs. Lendlease continues as development manager while Crown Estate provides funding.

Scale indicators12 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Vinci SA: French global construction and concessions company with real estate development arm. Comparable to Lendlease's integrated model with construction services, public-private partnerships, and large-scale urban development capabilities.
• AECOM: Global infrastructure consulting and construction services firm with urban development and property capabilities. Comparable to Lendlease's construction services business, particularly in transport, defence, and large-scale urban projects.
• Brookfield Asset Management: Global alternative asset manager with large real estate, infrastructure, and development operations. Comparable to Lendlease's integrated investment management plus development model, but at vastly larger scale and broader geographic footprint.

Direct peers

• Dexus: Australian real estate investment manager and developer with office and industrial funds management. Comparable to Lendlease's investment management platform, particularly APPF Commercial, with overlapping institutional investor base.
• Mirvac Group: Australian integrated real estate company combining investment management, development, and construction. Near-identical operating model to Lendlease, with comparable exposure to residential, office, retail, and industrial sectors in Australia.
• Charter Hall: Australian property investment and funds management group with development capabilities. Comparable to Lendlease's investment management business; recently involved in APPF Commercial transactions in Sydney CBD with overlapping institutional capital relationships.
• Skanska: Swedish-headquartered construction and real estate developer with integrated investment, development, and construction capabilities across multiple geographies. Directly comparable operating model to Lendlease's three-capability platform, particularly in urban regeneration and sustainable development.
• Stockland: Australian-listed residential and commercial property developer with integrated funds management. Closely comparable to Lendlease's Australian home market focus, particularly in masterplanned communities and commercial development.

Regional players

• Goodman Group: Australian-listed industrial property specialist with global operations and integrated investment, development, and funds management. Comparable to Lendlease's industrial/data centre development segment and funds management approach.
• CIMIC Group: Australia's largest construction contractor (parent of CPB Contractors and Leighton) with infrastructure and building exposure. Comparable to Lendlease's Australian construction operations, particularly in transport, defence, and commercial sectors.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/lendleasegroup
• Facebookfacebook.com/LendleaseGroup
• LinkedInlinkedin.com/company/lend-lease

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries4 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments23 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Lendlease