Lend Lease Group (ASX:LLC) has been selected as preferred bidder by the NSW government to deliver the Sydney International Convention, Exhibition and Entertainment Precinct located at Darling Harbour.
Lend Lease was chosen among a consortium that includes international services company the Spotless Group Limited (ASX:SPT).
Lend Lease will provide design and construction services for the project.
Additionally, Lend Lease will work with Infrastructure NSW to develop a mixed use site that includes a hotel of up to 900 rooms, residential apartments, student accommodation as well as commercial spaces.
Works are expected to commence in December 2014.
Lend Lease posted a net profit of $503 million in the 2012 financial year.
LLC Price at posting:
$8.99 Sentiment: None Disclosure: Held
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