Original article by Ben Wilmot, Samantha Bailey
The Australian – Page: 17 & 23 : 31-Jan-19
UBS says settlement risk could be a problem for Mirvac, Lendlease and Stockland in coming years as a result of the downturn in Australia’s apartment market. US believes that Mirvac is most vulnerable to settlement risk; however, such concerns have been downplayed by the head of Mirvac’s residential division, Stuart Penklis. Meanwhile, Dominic Lambrinos of Chifley Securities says some developers could be forced to sell development sites at a discount.
UBS HOLDINGS PTY LTD, MIRVAC GROUP – ASX MGR, LEND LEASE GROUP LIMITED – ASX LLC, STOCKLAND – ASX SGP, CHIFLEY SECURITIES, CORELOGIC AUSTRALIA PTY LTD, AMP LIMITED – ASX AMP, CREDIT SUISSE (AUSTRALIA) LIMITED