Australia's largest diversified developer Lend Lease is seeking to raise $800 million equity to top up its investment war chest.

The credit ratings agency Standard & Poor's grounded a negative credit ratings watch on the country's biggest developer and affirmed its investment grade credit rating.

Lend Lease, which grabbed projects with end value of $12 billion in the past nine months, reveals $1.6bn of potential investment in its projects.

Steve McCann, Lend Lease's Chief Executive Officer, reported analysts at the company's first-half result briefing in Sydney that the company had initiated this financial year with spending $2bn.

In addition, he revealed that these opportunities included $800m in its newly-awarded projects, $500m for public-private partnerships and $300m for latest developments in the residential and retirement sectors, specifically in Australia.

The company expected its full-year operating profit to be in line with the that of the previous year, with market scenario for its construction business in the US and Europe remaining very cumbersome, with the stronger Australian dollar continuing to pose its affect on the earnings.