Lendlease Group

LLC: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Lendlease's 15% Target Gearing Is Still Far Off

Yingqi Tan

Jun 12, 2026

Business Strategy and Outlook

Lendlease is simplifying, with plans to exit the development and construction businesses overseas to focus on the Australian market. Its offshore interests will be mainly limited to owning and managing mature assets, not development or construction. The strategy shift frees up substantial capital. Cutting debt, which grew substantially in the last two years, is the top priority.

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Lendlease Group

Lendlease's 15% Target Gearing Is Still Far Off

Business Strategy and Outlook

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