Lendlease Faces $1B Loss Amid Strategic Shifts

Lendlease's Strategic Shift and Its Financial Impact

Australia's largest property developer, Lendlease, has reported a significant financial loss, amounting to $1 billion in the latest fiscal year. This loss comes as the company undergoes an operational strategy shift and faces regulatory delays. The company is striving to exit its foreign construction projects, which is expected to release around A$4.5 billion in capital.