Lend Lease says it is on track to deliver growth for shareholders, as it stares down an extensive development pipeline and backlog of construction revenues.
Chief executive Steve McCann told shareholders at the group's annual general meeting the group remains very confident of its outlook, with a development pipeline of around $38 billion, a $16bn construction revenue backlog and more than $16bn funds under management.
"The embedded earnings in this pipeline of opportunities, underpins visibility over the next three years and provides a platform with a strong growth trajectory," he said.
Mr McCann said macro-economic trends were continuing to support Lend Lease's residential businesses in Australia and the UK.
"This is evident in the $2.5bn of pre-sold revenue that we have recorded across apartments and communities and a record year for settlements in our residential operations.
"That $2.5 billion pre-sold revenue will become cash and underpin profits over the next three years."
Mr McCann added the group's construction business is well-placed to participate in the foreshadowed Australian infrastructure-spend, expected to total around $50bn.
Lend Lease made a net profit of $822.9 million during the last financial year, up 50 per cent from $549 million in 2012/13.
This was underpinned by a $485m profit from the sale of the Bluewater shopping centre in the UK.
The developer makes about three-quarters of its earnings in Australia, excluding the Bluewater transaction in 2014, compared with 40 per cent in 2005.
"We will increase our focus on the offshore markets over the next few years, in line with expected macro trends, aiming to grow offshore earnings to 30-35 per cent of Group earnings," Mr McCann said.
"The next phase of our strategy is not a reinvention but an evolution of what we have worked towards during the last five years."