Lend Lease has been selected by the Western Australian state government as preferred developer of the first stage of the 710-hectare Alkimos coastal development in the state's capital.

A development agreement between Lend Lease and the state government's land development agency, LandCorp, is expected to be finalised within about three months, Lend Lease said in a statement.

Located in a rapidly growing metropolitan corridor 40 kilometres north of Perth's central business district, Alkimos will be one of the biggest coastal developments ever undertaken in the capital, comprising up to 10,000 dwellings on completion, Lend Lease said.

The Australian