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Sovereign Wealth Funds Briefing - Categorized | Financials, Investment

Clock ticking for Lend Lease

Posted on 28 March 2013

Lend Lease is under pressure to find an investor and operator for its 900-room hotel at Sydney’s Darling Harbour by mid-year, given that the project must be fully completed by 2016.
The Abu Dhabi Investment Authority is understood to be in the front position to fund the prime twin-tower hotel, should it be interested in the project, but Lend Lease development director David Hutton says there are at least three short-listed parties intent on buying it. The hotel’s design must be decided by mid-year for Lend Lease to lodge a planning application, under a timeframe that Mr Hutton admitted was “robust”………………………………………..Full Article: Source


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