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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