Singtel and Lendlease to form a joint venture.

Singtel, a communications technology group, and Lendlease, a real estate group, agreed to form a joint venture. Financial terms were not disclosed. “The redevelopment of Comcentre is in line with our capital recycling strategy to unlock the latent value of our assets and invest the proceeds in growth areas where we can achieve higher returns. This is a strategic move that will further strengthen our financial position, bring about an exciting next-generation workplace for our employees, and contribute to the rejuvenation of the Orchard Road precinct,” Yuen Kuan Moon, Singtel Group CEO.