Lendlease Annual Report 2022

16 Lendlease Annual Report 2022 Operating segments D e v e l o p m e n t I n v e s t m e n t s I n t e g r a t e d B u s i n e s s M o d e l P r o v e n T r a c k R e c o r d Creating places where communities thrive C o n s t r u c t i o n We pursue an integrated business model, where two or more of our operating segments of Investments, Development and Construction engage on the same project, to create new mixed use precincts, communities and important civic and social infrastructure. Investments The segment comprises leading investment and asset management platforms and the Group’s real estate investment portfolio. Capability For decades we have managed funds and assets for some of the world’s largest real estate investors. Our expertise spans unlisted and listed property funds and mandates. We offer a research led investment capability supported by active asset management and leadership in sustainability. Our competitive edge lies in the opportunities we provide to investment partners in accessing the diverse, high quality product created through our integrated model. Our development pipeline will provide a key source of growth for the Investments segment. This will be supplemented by pursuing other market opportunities with our investment partners. Platform • $44b funds under management • $30b assets under management • $3.5b investment portfolio Development The segment is predominantly focused on the creation of mixed use precincts that comprise apartments, workplaces and associated leisure and entertainment amenities. The Group also develops outer suburban masterplanned communities. Capability We manage the entire development process – from securing land, creating masterplans and consulting with communities and authorities through to project management, sales and leasing. Placemaking is core to our strategy and competitive position. We create places that resonate with people and contribute to the quality and liveability of our cities by working in partnership with governments, institutions, landowners, investors and the community. Platform • $117b development pipeline • 21 major urban projects in nine global gateway cities • 16 communities projects in Australia Construction The segment provides project management, design and construction services, predominantly in the commercial, residential, mixed use, defence and social infrastructure sectors. Capability Our capability is showcased in the places and structures we create – workplaces for some of the world’s largest organisations, residential apartments including affordable housing options, hospitals and other buildings of civic and social importance. Ongoing investment in innovation and technology aims to improve our safety, sustainability and efficiency. Our Construction segment typically designs and delivers the built form for our urban projects. Platform • $10.5b construction backlog revenue • Key sectors: defence; commercial; social infrastructure; residential • 61 per cent of backlog revenue for government clients