Developer Lend Lease is upbeat about its prospects, particularly in residential construction.
Chief executive Steve McCann told shareholders the company’s strategy was on track and delivering growth.
“The outlook for Lend Lease continues to be very positive, ” he told the company’s annual general meeting in Sydney on Friday.
“Macro trends continue to support our residential businesses in Australia and the UK.”
Mr McCann said $2.5 billion in pre-sold revenue from apartment buildings would become cash and underpin profits over the next three years.
“Our Construction business is well placed to participate in the estimated $50 billion of foreshadowed Australian infrastructure-spend,” he said.