PLQ completion, launch of global commercial Reit spur Lendlease on

SINGAPORE (EDGEPROP) - Tony Lombardo, Lendlease CEO for Asia, talks about the group’s A$100 billion development pipeline and future opportunities in Singapore and across the region

Exterior of PLQ Mall at Paya Lebar Quarter, which is now 90% leased (Photo: Samuel Isaac Chua/EdgeProp Singapore)
Tony Lombardo, property group Lendlease CEO for Asia, is usually on the “early shift” of global conference calls. That means waking up at 4.30am. “It’s just part of working for a global Australian business,” he says. “To get everyone across the world at the same time, we have to get up at different times.”
As Lombardo starts his day between 5am and 5.30am, waking up at 4.30am is no trouble for him. On a typical weekday, Lombardo goes for a 5km run, followed by a visit to the gym and sometimes yoga. He is usually in the office by 8am. Weekends will see him running 12km from his home in Novena to Singapore Botanic Gardens and back. He reckons he chalks up an average of 30km to 50km a week. “I love the outdoors,” he says. Being “self-motivated”, he does not need a personal trainer, and has shed some 16kg since last year.
Besides this personal milestone, Lombardo is even more pleased with the achievement logged by Lendlease’s integrated development, Paya Lebar Quarter (PLQ). The $3.7 billion project was completed in 4½ years from the time that Lendlease acquired the 99-year leasehold site in May 2015 for $1.67 billion. “This is one of the fastest developments of such a scale that we’ve done around the world,” he says.
Lombardo: [PLQ] is one of the fastest developments of such a scale

Fully sold, 90% leased

The 429-unit Park Place Residences at PLQ, which was launched in two tranches – in March 2017 and April 2018 – is already fully sold. The last unit was taken up on Monday, Nov 11. Average price of units sold is $1,875 psf, which has set a new benchmark in the area.