As we covered here in April, the village operator signed a $400 million deal with the Qingpu local government to build a retirement village with 900 units in Shanghai – one of the first retirement projects in the country without a local partner.
Now Lendlease Asia CEO Tony Lombardo has told the Australian Financial Review that he wants to win another four to five seniors’ living projects in China.
Lendlease has already worked on around 300 projects in China, usually for multinational clients such as Coca-Cola and Macquarie, but this is their first village and will be completely owned and operated by the company.
Mr Lombardo credits finding a niche as the key for Lendlease’s success in Asia and other markets.
“You have to have a competitive advantage that you truly believe allows you to play in the market. If you don’t have that perspective you are just competing against bigger players,” he said.