Lendlease announces US$1 billion data centre partnership

July 01, 2019 - 06:36
Lendlease announces US$1 billion data centre partnership

SINGAPORE - Media OutReach - 30 June 2019 - Leadinginternational property and infrastructure group, Lendlease, has announced apartnership to invest in data centres across the Asia Pacific region.

Thepartnership will be funded 20 per cent by Lendlease and 80 per cent by a largeinstitutional investor. The initial equity commitment by the parties is US$500million, combined with leverage will enable the partnership to invest US$1 billionin the sector. Completed assets and new development opportunities will betargeted across Australia, China, Japan, Malaysia and Singapore -- all marketsin which Lendlease has a significant presence.

Lendlease's integratedcapability across development, construction and investment is well placed toexecute on the significant growth forecast for the data centre sector. Accordingly, Lendlease has beenappointed as development, construction, property and investment manager for thepartnership.

Lendlease's CEO Asia TonyLombardo said, "A data centre platform is a strategic fit for theGroup, aligning with our targeted key trend of infrastructure, our telecommunicationsstrategy and our integrated business model. This partnership will enable us to leverageour track record of project managing, designing and building data centres with thestrong growth potential for this sector, which is evolving into a mainstreamreal estate asset class."

Commencement of thepartnership is subject to the relevant regulatory approvals. 

About Lendlease

Lendlease is a leadinginternational property and infrastructure group with operations in Australia,Asia, Europe and the Americas. Our vision is to create the best places; placesthat inspire and enrich the lives of people around the world.

Headquartered in Sydney,Australia, and listed on the Australian Securities Exchange, Lendlease hasapproximately 13,000 employees internationally.

Our core capabilities arereflected in our operating segments of Development, Construction andInvestments. The combination of these three segments provides us with asustainable competitive advantage and allows us to provide innovativeintegrated solutions for our customers.

We are known as 联实 in Chinese. For moreinformation, please visit: www.lendlease.com.