Lend Lease tests the faithful

Article Abstract:

Investors are cautious about Australia's Lend Lease Corp., as the real estate developer/financial services company expands its operations overseas. Lend Lease's share price is $19.09 against a 1998-99 high of $24. Lend Lease is expanding internationally, including the development of shopping centers in the United Kingdom, Spain, and Portugal. Lend Lease's profits have increased continuously for 24 years, and its objective is earnings-per- share-growth of at least 10%.

Australia, World, Financial Services, Finance and Insurance, Statistical Data Included, Foreign operations, Financial services industry, Beliefs, opinions and attitudes, Investors, Lend Lease Corp., Dusseldorp, Dick

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How Versace was lured down under

Article Abstract:

Versace SpA plans to spend $200 million on a hotel and condominium resort on the coast of Australia. The company responded to an offer by Sunland, a property developer, to buy a site near the Sheraton Mirage. Soheil Abedian, a director of Sunland, believed that the presence of Versace would influence conservative investors to participate in the property.

Multifamily Housing Construction, Hotels & Motels, Hotels (except Casino Hotels) and Motels, Residential construction, not elsewhere classified, Hotels and motels, Condominiums, Planning, Residential construction, Gianni Versace S.p.A., Sunland

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Developer begins to run out of room in Surfers

Article Abstract:

Developers are finding development opportunities scarce in Surfers Paradise, in Australia. The Sunland Group's managing director Soheil Abedian reports that the development firm is looking to diversify slowly and cautiously in other areas of the country. Sunland has purchased two development sites in Surfers Paradise, and there are two left.

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