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Lend Lease wins $400m Alkimos contract

Lend Lease wins $400m Alkimos contract

The Lend Lease Group (ASX:LLC) has announced it has been selected as the preferred bidder for the first stage of the WA Government’s billion-dollar Alkimos community development project.

The project, which will consist of up to 10,000 houses on completion, is expected to commence development in 2011.

Alkimos said it expects to sign a development agreement with the Government within the next three months. The first stage of the contract is worth over $400 million over seven years.

LLC stock has grown 4.4% to $9.89 today.

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Tags governmentWestern AustraliaHousingbusiness dealsLend Lease

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