AUSTRALIA-LISTED developer LendLease Group is said to be planning to list its retail assets in a real estate investment trust on the Singapore Exchange, according to a report.
The report, which cited Thomson Reuters’ IFR Asia, said that LendLease could raise up to US$500 million from the listing. Lendlease did not immediately respond to queries fromLendLease's retail projects in Singapore include Parkway Parade in the East, 313@Somerset and retail and commercial development JEM in Jurong East.
It is also developing mixed-use development Paya Lebar Quarter, which has an end development value of an estimated S$3.325 billion. According to its website, Paya Lebar Quarter will feature three Grade A office towers with close to one million square feet of Grade A prime office space and amenities, a retail mall which spans over 340,000 square feet and three residential towers comprising 429 apartments. The office towers have achieved TOP and PLQ Mall is in the final stages of construction.