Lendlease (ASX:LLC) has made further progress in its FY26 capital recycling program, signing a binding agreement to sell a 40% stake in The Exchange TRX retail mall and its full 60% interest in the adjacent office tower in Malaysia to the Valiram Family Office for approximately $400 million.
After completion, Lendlease's remaining 20% stake in the retail mall will be transferred to its Investments segment.
The company retains a 60% interest in the residential land plots and adjacent hotel, valued at over $200 million, within its capital release unit.
Advisers have been appointed, alongside joint venture partner TRX City, for the hotel sale, while options for the land plots remain under review.
The transaction is expected to close in the second half of FY26, subject to customary conditions.