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Singtel Completes Strategic Partnership with Lendlease for Comcentre Redevelopment

Mar 10, 2025•over 1 year ago

Contract Type

partnership

AustraliaHardwareSatellite Communication

Description

Singtel has announced the completion of a strategic partnership with Lendlease for the redevelopment of its Comcentre property. Lendlease has acquired a 49% stake in Singtel Somerset Pte. Ltd., the entity holding the Comcentre property, for S$1.6 billion. This transaction results in a gain of approximately S$1.2 billion for Singtel, after accounting for transaction costs

Company Information

Company

Singtel

Location

Australia

About

Singtel is Asia's leading communications technology group, providing a portfolio of services from next-generation communication, 5G and technology services to infotainment to both consumers and businesses. The Group has presence in Asia, Australia and Africa and reaches over 770 million mobile customers in 21 countries. Its infrastructure and technology services for businesses span 21 countries, with more than 428 direct points of presence in 362 cities. For consumers, Singtel delivers a complete and integrated suite of services, including mobile, broadband and TV. For businesses, Singtel offers a complementary array of workforce mobility solutions, data hosting, cloud, network infrastructure, analytics and cyber security capabilities. Singtel is dedicated to continuous innovation, harnessing technology to create new and exciting customer experiences and shape a more sustainable, digital future. For more information, visit www.singtel.com. Follow us on Twitter / X at @SingtelNews. ____________________ 1 Kearney 2022

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Agreement Insights

Based on industry data
Strategic partnership established
Partnership agreements typically involve technology integration and joint go-to-market strategies
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Companies with recent agreements are 2.3x more likely to make additional purchases within 6 months

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