Lendlease is a leading international property and infrastructure group, with approximately 13,000 employees across operations in Australia, Asia, Europe and the Americas.
But in Malaysia, the company's most recognisable development is a 17-acre Lifestyle Quarter in the Tun Razak Exchange or TRX.
Following the change of government after the 14th General Elections, Lendlease were among the handful of companies that faced uncertainty as the government reevaluated the feasibility of many mega projects. After months of deliberations, the government decided the 70-acre TRX development shall be completed, with government funding up to RM2.8 billion.
“We have full confidence in this government to do what they believe is best, not only for the country, but for ensuring growth,” says Tony Lombardo, Lendlease Asia CEO.
Investors, like Lendlease, have sunk in billions into the controversial project but had faced difficulties in getting financing from banks due to it being part of scandal-riddled 1Malaysia Development Bhd (1MDB).
Finance Minister Lim Guan Eng disclosed that more than RM3 billion had been “misappropriated” from TRX City - the master developer of TRX - by 1MDB.
“We employ thousands of people here and abroad to ensure that whatever that has been planned, will be delivered within the stipulated time and within the cost announced. We have been doing this for decades, and am confident that this project, and many others like it, can be completed in due course,” he continues.
“Our employees help to create places that leave a positive legacy with a focus on health and safety, our customers, innovation and sustainability. Lendlease and our legacy businesses have been entrusted with many projects that have become the cornerstone of cities and communities – projects like the September 11 Memorial & Museum in New York, the Athletes’ Village in London, Sydney Opera House, Petronas Towers in Kuala Lumpur, critical infrastructure, stadiums and entertainment facilities around the world, hospitals, schools, shopping centres, residential communities and high rise apartment buildings – the list goes on,” he says.
Lendlease has been featured quite extensively in the developmental aspect of Southeast Asia for decades.
In Singapore for example, many of the HDB Apartments were partly built by Lendlease.
“The relevance of our business today is testament to our founder’s foresight. We made sure we had all the ingredients we needed to grow Lendlease well into the future. We are bold and innovative, we value knowledge, we do what matters and we look for common interests and purposeful outcomes. This is how we deliver on our vision,” he adds.
Watch the full interview below:
