{"id":20164,"date":"2019-07-19T09:50:44","date_gmt":"2019-07-18T21:50:44","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=20164"},"modified":"2019-07-19T09:50:44","modified_gmt":"2019-07-18T21:50:44","slug":"international-australian-developer-lendlease-lands-15-billion-project-with-google-shares-surge","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/international-australian-developer-lendlease-lands-15-billion-project-with-google-shares-surge\/","title":{"rendered":"INTERNATIONAL: Australian developer LendLease lands $15 billion project with Google; shares surge"},"content":{"rendered":"<p>&nbsp;<\/p>\n<p><strong>PHOTO:\u00a0FILE PHOTO: The Google logo is pictured at the entrance to the Google offices in London<\/strong><\/p>\n<p class=\"canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm\" data-reactid=\"23\">(Reuters) &#8211; Australia&#8217;s LendLease Group &lt;LLC.AX&gt; on Thursday said it secured a contract with Alphabet Inc&#8217;s &lt;GOOGL.O&gt; Google to develop $15 billion worth of residential and retail space in Silicon Valley, sending the builder&#8217;s stock to a more than eight-month high.<\/p>\n<p class=\"canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm\" data-reactid=\"24\">The deal is a significant boon for LendLease, coming at a time when Australian developers navigate the domestic property market&#8217;s worst downturn in a generation, characterized by a drop in building approvals and tighter consumer spending.<\/p>\n<p class=\"canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm\" data-reactid=\"25\">It is also a major win for LendLease&#8217;s strategy to expand abroad, and will see it reinforce its core role as a residential developer after being hobbled by its engineering division.<\/p>\n<p class=\"canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm\" data-reactid=\"26\">&#8220;It&#8217;s an important deal and the client is very well known and it&#8217;s likely to be a very innovative development,&#8221; said Michael McCarthy, chief market strategist at CMC Markets<\/p>\n<p class=\"canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm\" data-reactid=\"27\">&#8220;So in reputation terms, it&#8217;s a positive for the company and it may very well attract further attention, in particular attention from international players.&#8221;<\/p>\n<p class=\"canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm\" data-reactid=\"28\">The announcement sent LendLease&#8217;s share price up in morning trade by as much as 5.3% to A$14.84, its highest since Nov. 8.<\/p>\n<p data-reactid=\"28\">READ MORE VIA <a href=\"https:\/\/finance.yahoo.com\/news\/australian-property-firm-lendlease-lands-003239492.html\">YAHOO<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; PHOTO:\u00a0FILE PHOTO: The Google logo is pictured at the<span class=\"more-link\"><a href=\"https:\/\/propertynoise.co.nz\/au\/international-australian-developer-lendlease-lands-15-billion-project-with-google-shares-surge\/\">Read More &rarr;<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":20165,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[461747081],"tags":[478106355,478098512,478098521,478098780,478106358,478106356,478101412,478106352,478106354,478106353,478106357,478098513,478098579,478098510,478098514,478098511,478098509,478099047,478106359,478100776,478103249],"class_list":["entry","author-data123nz","post-20164","post","type-post","status-publish","format-standard","has-post-thumbnail","category-australian-property-real-estate-news","tag-alphabet-incs","tag-australia","tag-australians","tag-california","tag-cmc-markets","tag-googl-o","tag-google","tag-lendlease","tag-lendlease-group","tag-llc-ax","tag-michael-mccarthy","tag-property","tag-property-market","tag-property-news","tag-propertynoise","tag-real-estate","tag-real-estate-news","tag-residential","tag-retail-space","tag-silicon-valley","tag-us-property"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>INTERNATIONAL: Australian developer LendLease lands $15 billion project with Google; 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