Stockland, one of the country’s largest housing developers, has upgraded its earnings expectations by around 3 per cent for the 2025 financial year, boosted by its $1.1 billion acquisition of a portfolio of Lendlease’s housing estates.

The mega deal hands 12 greenfield projects to Stockland and its co-investor, Thai player Supalai, to develop in the midst of a national housing crisis, when new homes are in sore need.