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Lend Lease Group (ASX:LLC) has struck a joint venture deal with a Malaysian developer to work on a $2.8 billion development in Kuala Lumpur.
The Australian property developer and state-owned 1MDB Real Estate will start to develop The Lifestyle Quarter at the Tun Razak Exchange from late this year.
The Lifestyle Quarter development in the country’s new financial district will include a retail shopping centre, several residential towers and a hotel.
Lend Lease has operated in Malaysia for more than 35 years and will be the development manager of the most recent project.
Lend Lease Group reported a net profit of $315.3 million in the first half of the 2015 financial year.
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