News: Lend Lease wins major Vic project

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    Construction company Lend Lease Group Ltd (ASX:LLC) has been selected by Melton Shire Council in Victoria to develop a $1.2 billion project.

    The company will be developing the Toolern master-planned urban community project, located in Melton, with a formal development agreement due to be finalised by May 2011.

    The Toolern project will include 4,500 dwellings, two schools and a shopping centre, with first sales expected towards the end of 2011.

    For the year ended 30 June 2010, Lend Lease reported a net profit of $348 million.
 
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