Global property developer Lend Lease's development pipeline has hit a record of nearly $45 billion thanks to new projects in Asia and the Americas.

Lend Lease unveiled a 24 per cent fall in net profit to $618.6 million for the year to June 30, from $822.9 million in 2013/14. The fall was largely because of the inclusion in the 2013/14 accounts of a $485 million benefit from the sale of Lend Lease’s Bluewater shopping…