Latest NewsProperty Development Set to Pick upThursday, 05 January 2017

Property developers Lend Lease Ltd, Mirvac Ltd, Stockland, Ltd, Walker Corporation Ltd and Goodman Group Ltd have committed more than $15 billion to new projects in recent months, The Australian Financial Review reports.

The commitments signal a pick-up in the sector as banks increase lending and developers take advantage of Australia's recovering economy, the paper says.

Lend Lease global head of development, David Hutton, said the industry is seeing "an accelerated level of activity."

"We believe now is a good time to increase our [development pipeline],"
he told the AFR.

Mr Hutton said his Lend Lease would spend $10 billion on commercial building over the next ten years.

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