Today
Lendlease lands Japanese investors for $1.5b London tower
Under pressure from investors, the company is in the thick of a wide-ranging overhaul of its business to reduce global exposures. The London deal is a boost.
Yesterday
Building giant says low bids from global rivals put projects at risk
The managing director of CPB Contractors says multi-billion dollar infrastructure work is coming unstuck because some big rivals don’t understand local cost.
How the builder of the Sydney Metro is adapting to Donald Trump
Five years after a $1 billion loss, Juan Santamaria has changed the way construction giant CIMIC works to avoid US tariffs and ride the data centre boom.
March
Roberts Co owes Victorian tradies $50m
Creditors attending their first meeting heard there was still no agreement on how quickly work will resume on projects such as Amazon’s giant warehouse.
Inflation data brings two rays of housing crisis hope
Wednesday’s inflation data strengthened the case for another rate cut and contained another slice of good news on housing.
Whyalla steelworks in $60m emergency spend to secure coal supply
The steelworks’ administrators have secured coking coal from BlueScope, China and Indonesia to keep making steel after it was left with only three days’ supply.
Inflation slows as housing market cools
Underlying inflation has fallen to its equal lowest level since December 2021 as builders offer promotional incentives and the rental market eases.
Home building faces new threat as demand picks up
After some very tough years, contractors in the housing sector – particularly smaller ones – don’t have resources to take on the large jobs now flowing through.
James Hardie investors worried $14b Azek deal is overvalued
As the building material business’ stock price dived, chief executive Aaron Erter rejected concerns it had overpaid for outdoor products company AZEK.
SQM issues warning on private credit after uptick in bad loans
One of the largest ratings agencies said it was concerned by “questionable” practices and a lack of transparency in the non-bank lending sector.
Tallest tower creditors vote for ‘shit sandwich’ proposal
Administrators of the entity managing the $2.7 billion project can now sell the project. But there’s another option for Beulah director Jiaheng Chan.
New home targets ‘not going to go close to being met’
The leader of Australia’s biggest brick-making group, Brickworks, says Australia still won’t have built enough new homes by 2029 to meet government targets.
Victoria counts the cost of rising insolvencies
Construction across the nation has struggled with higher costs, shortages and delays. But Victorian insolvencies are rising the fastest among the big states.
Victoria police reject Allan’s claim about CFMEU crackdown advice
Jacinta Allan said it was the acting police commissioner’s fault that she said a nine-month-old operation against thuggery in the construction industry was new.
Whyalla steelworks halted, millions in capex urgently needed
“Because of the underinvestment, inadequate maintenance and servicing of critical infrastructure, the steelworks are in a state of disrepair,” says KordaMentha.
Productivity problem empowers populist right
We had better get our act together in Australia or we may court the kind of poisonous politics wreaking havoc in the United States and across Europe.
New homes to fall 400,000 short of national target: report
The production of both greenfield homes and apartments is well below average. The supply of new dwellings is forecast to fall 11 per cent this year.
Builder Roberts Co faces new threat from bond claims
While the contractor’s Victorian operations are only part of its business, developer claims against guarantees could tear a big hole in the parent company.
Melbourne blowouts tip John Holland into $55.5m loss
The construction giant slid into the red from a profit of almost $100 million a year earlier due to “project delivery issues” and cost blowouts.
Administrators, developers comb through Roberts Co wreckage
The Victorian builder put into administration late on Friday had eight live projects and as many as 16 still in the warranty period, early indications show.