Australian property developer Lend Lease is to broaden its Asian presence with plans to invest in China beginning next year.

Lend Lease Asia CEO Rod Leaver said their first move into China would definitely be a retail property which would be modelled on those in Australia.

Expanding into China would implement Lend Lease’s goal to develop a strong pipeline of projects in Asia.

“There are signs of opportunities emerging in Asia and over the next few years the group will invest more capital in this region,” said Lend Lease chairman David Crawford.

In preparation for a China foray, Lend Lease has appointed David Nieh to lead the Shanghai-based China operation.

Lend Lease, through its own managed Asian Retail Investment Fund, owns and operates shopping malls in Asian countries Japan, Singapore and Malaysia.

In Singapore, its projects include shopping malls 313@Somerset on Orchard Rd and Jem in Jurong, due to open next year.

Lend Lease is seeking more opportunities in Singapore and says it looks forward to developing its presence further in the country.

It also owns a 50 per cent stake in the newly opened Setia City Mall in Malaysia in a joint venture with Malaysian developer SP Setia.

GB