Latest news with #Lendlease
AU Financial Review
16-07-2025
- Business
- AU Financial Review
Everyone wants to be a fund manager. But can they?
Lendlease chief executive Tony Lombardo has proved adept at exiting unwanted operations. Now he must rescue a business he wants to keep. His flagship Australian funds management operation – the three Australia Prime Property Funds and the $10.6 billion of office towers, shopping centres and logistics facilities they control – is slipping away.
AU Financial Review
16-07-2025
- Business
- AU Financial Review
Lendlease plans $2.5b luxury apartment project in Sydney's Hyde Park
Lendlease has boosted its luxury apartment pipeline with the acquisition of a site in central Sydney's Liverpool Street, overlooking Hyde Park, that it will develop into a residential tower with an end value of $2.5 billion. ASX-listed Lendlease, which plans to develop 300 units in two towers, declined to say how much it is paying for the 175 Liverpool Street site, which is currently occupied by a 30-storey office tower and tenants including the Fair Work Ombudsman, Ticketek and Waratah Chambers.
SBS Australia
14-07-2025
- Entertainment
- SBS Australia
Changing the Face of Circular Quay with Alison Page
Alison Page is a proud Yuin and Dhurrawal woman and artist who will see her work become a permanent feature in Sydney's Circular Quay. Alison shares with NITV Radio all about her sculpture, Badjgama Ngunda Whuliwulawala (Black Women Rising) the announcement of which has been commissioned by Lendlease, the manufacturing by UAP as part of the luxury residential One Circular Quay and Waldorf Astoria Sydney hotel development. Alison shares the experience of collaboration throughout the development with the formation of Sydney Coastal Aboriginal Women's Group and her personal connection to the storytelling saying, "as she rises from the water, she is the mixing of the saltwater and freshwater, she is the energy and essence that lives within Aboriginal women in Sydney today and she is Country"
Yahoo
09-07-2025
- Business
- Yahoo
Singtel's redeveloped Comcentre to be Singapore's first AI-enabled, 5G+ connected building
Set to be completed by 2028, the new $3 billion Comcentre will also be the first end-to-end carbon-neutral development in the country with Triple Certification in Singapore and Asia. Singapore Telecommunications (Singtel) and Lendlease have officially broken ground on the new Comcentre, which is slated for completion in 2028. The $3 billion development will feature more than 110,000 square metres of gross floor area across two 20-storey Grade A office towers. It will also include 20,000 square metres of retail and lifestyle spaces (comprising Singtel's new flagship store, F&B offerings, medical suites, a gym, and an auditorium) along with the largest elevated urban park in central Singapore. Set to be Singapore's first AI-enabled building, the Comcentre will be powered by dedicated 5G+ connectivity using network slicing technology provided by Singtel. This will support the seamless integration of AI, IoT sensors, and building systems to enable predictive operations, resource optimisation, and enhanced security. The building will also feature smart infrastructure that adapts to environmental conditions, alongside technology-enabled spaces designed for the future of work and retail. 'The new Comcentre will be the first AI-enabled building powered by dedicated 5G+ connectivity with network slicing to deliver ultra-fast speeds, seamless connectivity and robust security for its tenants. [We are] creating a place not just for ourselves but for businesses to use the latest technologies to develop new products and solutions and thrive. This will showcase how advanced connectivity, data and intelligent systems can transform the way people work, live and engage with their environment,' says Singtel Group CEO Yuen Kuan Moon at the groundbreaking ceremony. Besides that, the Comcentre will be a carbon-neutral development, from design through construction and operations, through the use of smart building and digital technologies. It is on track to be the first in Singapore and Asia to achieve a 'Triple Certification.' The development is targeting the International Living Future Institute's Zero Carbon certification and the WELL v2 Core Platinum Certification from the International WELL Building Institute. It also aims to become Singapore's first Green Mark Platinum (Zero Energy) high-rise commercial building under the Building and Construction Authority (BCA)'s sustainability guidelines, meeting all five of BCA's sustainability badges. Designed to achieve 70% energy savings from the Green Mark 2005 baseline, the building will cut energy consumption by an estimated 12 million kWh annually, enough to power over 3,750 three-room HDB flats, said Lendlease group CEO and managing director Tony Lombardo. To meet these targets, the project will include efforts such as: 1,000 kWp onsite renewables installed through the use of rooftop photovoltaic (PV) panels and building integrated photovoltaic panels (BiPV) to generate renewable energy Centralised high-efficiency dual-temp chiller plant supported by Active Chilled Beam and Variable Air Volume hybrid cooling system with elevated setpoint temperature for improved energy efficiency Low heat gain façade with high-performing glazing and extensive building shading to reduce cooling demand Smart lighting system with daylight and occupancy sensors for adaptive dimming and energy savings High-efficiency lifts with Variable Voltage Variable Frequency, sleep mode and regenerative features to optimise energy use EV-ready infrastructure, enabling up to 30% of parking lots to support electric vehicles (EV) The development will also reduce potable water use by 69% (equivalent to 25 Olympic-sized swimming pools) through rainwater harvesting as well as using NEWater for toilet flushing and a water intelligence system. '[This project] combines our deep expertise in sustainable development with a vision for how people will live, work and connect in the future. We are proud to partner with Singtel to deliver a world-class asset that not only redefines the workplace, but also sets a new benchmark for sustainable and connected living in Singapore and beyond,' says Lombardo. The redevelopment will showcase a digital-first approach to construction. Lendlease and its partners will implement 19 integrated digital delivery (IDD) use cases, ranging from digital design checks and virtual coordination to real-time asset monitoring and digital operations. Advanced construction methods will also be used to cut on-site labour needs by up to 30% and shorten delivery timelines by as much as 20%, according to a joint press statement. At the same event, Minister for National Development Chee Hong Tat highlighted the Comcentre's innovative contracting model as a blueprint for future developments. 'It is amongst the few major private sector projects in Singapore to incorporate an open-book payment model with gain share and Guaranteed Maximum Price, and is a forerunner for more collaborative and risk-sharing models in Singapore's Built Environment sector. This is a progressive shift away from the traditional lump sum contracting model that is common in the industry today,' he says. Under this arrangement, contractors are reimbursed for actual costs up to an agreed ceiling, with cost savings shared between the developer and builder. This encourages continuous innovation, joint problem-solving, and aligned incentives towards delivering better outcomes. 'When completed, the new Comcentre will not only be a showcase of future-ready infrastructure but also a model of how sustainability, technology and collaboration can come together to redefine and transform our built environment for future generations to come,' adds Chee. As at 12pm, shares in Singtel are trading 6 cents higher or 1.54% up at $3.96. 8% y-o-y to $8.2 mil Singtel's enhanced connectivity solution to support enterprises' global IoT deployment DBS raises Singtel's TP to $4.58, says telco's core value could increase by 180% Read more stories about where the money flows, and analysis of the biggest market stories from Singapore and around the World Get in-depth insights from our expert contributors, and dive into financial and economic trends Follow the market issue situation with our daily updates Or want more Lifestyle and Passion stories? Click hereError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Times
08-07-2025
- Business
- Business Times
Singtel, Lendlease break ground on new S$3 billion Comcentre
[SINGAPORE] Singtel and Lendlease broke ground on Tuesday (Jul 8) for what will be the telco's new Comcentre headquarters on its former site on Exeter Road. The building, being redeveloped at the cost of S$3 billion, will be the largest Grade-A office space in the Orchard Road precinct, taking up 110,000 square metres (sq m). The previous Comcentre had a gross floor area of 105,371 sq m. Singtel will be the anchor tenant, occupying 30 per cent of the total development area. Slated for completion in 2028, the project will have two 20-storey Grade-A office towers, covering 81,960 sq m in gross floor area. It will also feature 20,000 sq m of lifestyle and retail spaces, including Singtel's new flagship store, food and beverage (F&B) outlets, medical suites, a gym and an auditorium. The total net lettable space available for lease is about 54,000 sq m. The Business Times understands there has been 'strong interest from a broad spectrum of companies', though official marketing and leasing starts only in 2026. Singtel employees who used to work in the monolithic Orchard Road area landmark were relocated to SingPost Centre and other Singtel premises across the island in 2024, ahead of the demolition works. A NEWSLETTER FOR YOU Tuesday, 12 pm Property Insights Get an exclusive analysis of real estate and property news in Singapore and beyond. Sign Up Sign Up The new Comcentre coming up on the site will be open to the surrounding neighbourhood with a large sheltered walkway and a pedestrian thoroughfare lined with retail and F&B outlets. It will be connected to Somerset MRT station through a sheltered, above-ground link and another link at B2 level. Designed by New York-based architecture firm Kohn Pedersen Fox and landscape architect Field Operations, the project will feature the largest elevated urban park in central Singapore, at nearly a hectare in size. At the groundbreaking ceremony of Singtel's new Comcentre were Singtel's group chief executive Yuen Kuan Moon, Australian High Commissioner to Singapore Allaster Cox, Minister for National Development Chee Hong Tat and Lendlease's group chief executive Tony Lombardo. The new Comcentre is set to be Singapore's first end-to-end carbon neutral development. PHOTO: SINGTEL, LENDLEASE Minister for National Development Chee Hong Tat, speaking at the groundbreaking ceremony, said: 'The redevelopment of the Comcentre is expected to enliven the Somerset area, and provide new amenities for the surrounding community.' He added: 'The revitalised Comcentre will serve as a vibrant community hub with new public spaces and improved connectivity – bringing people from all walks of life together, supporting local businesses, and contributing to a more inclusive and dynamic Orchard Road for all Singaporeans.' The redevelopment was announced in 2022 when Singtel partially divested Comcentre to a joint venture (JV) company with Lendlease, with an eye on maximising the site's potential, increasing building efficiency, unlocking value from the property, and strengthening Singtel's financial position. Singtel holds 51 per cent of the JV, with Lendlease owning 49 per cent. Singtel's net profit for FY2025 rose to S$4.02 billion, up from S$795 million the year before, driven mainly by a net exceptional gain of S$1.55 billion from the partial divestment of Comcentre. The new development will incorporate AI-enabled robotics, smart-building infrastructure that adapts to its environment, and technology-enabled spaces designed for work and retail. It is on track to becoming Singapore's first development that is end-to-end carbon-neutral, encompassing its design, construction and operations. Measures include using low-carbon concrete and steel, and reusing 40 per cent of crushed concrete waste from existing structures. The project is also expected to earn three major green-building certifications. Minister Chee highlighted the use of a different contracting model, under which contractors are paid for the actual costs up to a fixed limit, with costs savings shared between developer and builder. Digital technology will streamline workflows, improve teamwork and boost efficiency throughout the project. Advanced construction methods, such as robotic installation system for elevators, are expected to reduce on-site labour by up to 30 per cent and speed up project completion by up to 20 per cent.
