Horrible Year for Lendlease, but Planned Simplification Gives Reasons for Optimism

Lendlease kicked off a major shift in strategy in 2024, with plans to exit its international development and construction businesses, and focus on Australia. The group is a diversified property developer, landlord, property manager, fund manager, and builder on a range of development projects, funds, and completed properties around the world. However, within a few years, its offshore interests will mainly be limited to owning and managing mature investment assets, not development or construction projects. This will involve completing work-in-progress, selling its Asian, European, and United States development projects that haven't already started, selling its offshore construction capabilities, and its retirement and US military housing businesses, and Australian communities development.