Lend Lease Group (ASX:LLC) has secured a $1 billion urban community project at Werribee in Victoria.
The property developer says construction on the 438 hectare site, located around 30 kilometres south-west of Melbourne, will take place over the next decade.
The Werribee committee is expected to comprise of around 4,000 homes, four schools, a shopping centre and local community, sport and recreation facilities.
The first sales are due mid 2012.
In the first six months of the 2011 financial year Lend Lease posted a net profit of $227 million.
