The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Untitled design (8)
2 WEEKS UNTIL OUR UNMISSABLE FLAGSHIP CONFERENCE MORE THAN 550 ALREADY ATTENDING
2 WEEKS UNTIL OUR FLAGSHIP CONFERENCE 550+ ALREADY ATTENDING
REGISTER NOWDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
2
print
Print
OtherAna NarvaezTue 06 Aug 19

Lendlease Leads Funding Bid to ‘Revolutionise’ Construction

95e446e1-5918-4263-882d-2ff09dfe2ccc

An industry-led research initiative is set to “catapult” the industry into an efficient future, targeting up to a 40 per cent reduction in project costs and delays.

Construction giant Lendlease, the University of Melbourne and the Donovan Group, along with 25 other commercial industry, university and government partners, are leading a $28 million funding bid through the Australian government Cooperative Research Centre (CRC) program.

The research initiative, dubbed Building 4.0 CRC, will leverage artificial intelligence, robotics and data science to improve inefficiencies in the design, development and assembly of buildings.

Building 4.0 is targeting a 37.5 per cent reduction in project costs through off-site manufacturing and digitisation while improving project delays by an estimated 40 per cent.

The initiative is also targeting an 80 per cent reduction in construction waste and reduce emissions by 50 per cent.

University of Melbourne professor of engineering Mark Cassidy said that the industry needs to gain a “first-mover advantage”.

“These reforms are only achievable with significant innovation and collaboration across the industry,” Cassidy said.

Related: NSW Appoints Building Commissioner

▲ The construction industry has the lowest productivity gains of any industry, according to consultancy firm McKinsey.


The research centre will bring together experts in architecture, planning, construction, engineering, business, IT and law with the aim to transform the sector.

“We’re looking to use the latest digital technology to create high-fidelity, fully detailed, complete and absolute models of what we’re going to build, before we build it,” Lendlease digital chief executive Bill Ruh said.

“The accuracy and speed of construction will be second to none, pushing the boundaries of what’s possible.”

The construction industry has the lowest productivity gains of any industry, according to consultancy firm McKinsey, which described the sector as largely “under-digitised” and ripe for disruption.

Silicon Valley start-up Katerra Inc is the largest and most well-known industry disrupter — essentially a one-stop shop for building construction, from architectural design to prefabricated construction.

Katerra has been valued at more than $4 billion, with backing from Japanese giant Softbank, which has led two financing rounds totalling more than $1.5 billion.

Closer to home, Australian start-ups Cnstrct and Matrak have secured funding in the construction tech space.

The $28 million funding bid for Building 4.0 includes industry players Lendlease, CSR, BlueScope Steel, Schiavello and the Dexus-backed Taronga Ventures and the not-for-profit Green Building Council.

Standards Australia and several state government bodies are also involved in the initial funding bid.

OtherAustraliaConstructionArchitectureFinanceTechnologyPlanningPlanningOther
AUTHOR
Ana Narvaez
The Urban Developer - Editorial Director
More articles by this author
ADVERTISEMENT
TOP STORIES
The Port of Brisbane has released its Vision 2060 which details the need for inland rail connectivity
Infrastructure

Brisbane Port’s $15bn Future Faces One Big Obstacle

Renee McKeown
5 Min
Freecity Rouse Hill triple towers 2 Tempus Street
Exclusive

Freecity Takes Covers Off $330m Triple Towers in Sydney’s North-West

Leon Della Bosca
5 Min
Parallel Workshops Stockdale Housing PBSA project
Exclusive

Suburban Success Story Turns PBSA Thinking on its Head

Leon Della Bosca
7 Min
Exclusive

Interstate Developers Find Lots to Love in ‘Progressive, Affordable’ SA

Taryn Paris
5 Min
Bates Smart Richmond Sportslink HERO
Exclusive

BtR Focus Drives Bates Smart’s Richmond Sportslink Concept

Leon Della Bosca
6 Min
View All >
Industrial

Inland Rail: Site at Rural Hub Comes to Market in Victoria

Lindsay Saunders
Stockland's Triniti HERO
Build-to-Rent

Stockland $400m North Ryde BtR Approved on Appeal

Leon Della Bosca
Logan Wastewater Funding hero
Infrastructure

Flush of Funding to Deliver 20,000 New SEQ Homes

Phil Bartsch
Without the $135.98-million injection it is claimed the Logan City Council would have had to stop approving new housing …
LATEST
Industrial

Inland Rail: Site at Rural Hub Comes to Market in Victoria

Lindsay Saunders
2 Min
Stockland's Triniti HERO
Build-to-Rent

Stockland $400m North Ryde BtR Approved on Appeal

Leon Della Bosca
3 Min
Logan Wastewater Funding hero
Infrastructure

Flush of Funding to Deliver 20,000 New SEQ Homes

Phil Bartsch
3 Min
The Port of Brisbane has released its Vision 2060 which details the need for inland rail connectivity
Infrastructure

Brisbane Port’s $15bn Future Faces One Big Obstacle

Renee McKeown
5 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/lendlease-university-of-melbourne-partner-on-construction-industry-