16 April, 2015

Herbert Smith Freehills has advised Lend Lease in Singapore on its successful SGD 1.67bn bid (approx. AUD 1.6bn;  USD 1.2bn) for a large mixed use site at Paya Lebar, Singapore.  The site was awarded to Lend Lease on 1 April 2015, after a competitive tender process by the Singapore Urban Redevelopment Authority.  The site will be owned through a joint venture with one of Lend Lease’s major global investment partners, with Lend Lease holding a 30% share.

Partner Justin O’Farrell led the Herbert Smith Freehills team. Justin O’Farrell commented, “We are thrilled to have helped Lend Lease win another major bid in Singapore, for a development that will have a significant impact on the Paya Lebar area.  Our Australia and Asia-based team put in a huge amount of work in the run up to the bid and are delighted that that has paid off.”

The announcement of the transaction follows the finalisation in March 2015 of joint venture terms for Lend Lease’s partnership with Malaysia’s 1MDB Real Estate in relation to the development of the Lifestyle Quarter of the upcoming Tun Razak Exchange (TRX) in Kuala Lumpur, on which Lend Lease were advised by a Herbert Smith Freehills team led by Singapore partner Nicola Yeomans.

Conventus Law