Westfield Begins $1 Billion Dollar Project
Westfield Begins $1 Billion Dollar Project – In its first quarter update today, the company said it was experiencing strong results from the Australian and New Zealand portfolios, notwithstanding the anticipated softening sales growth for the quarter.
These two countries experienced nearly full occupancy at 99.5 per cent.
Joint group managing director Steven Lowy said retail sales and occupancy had also improved in the United States and the United Kingdom after a reduction in bankruptcy store closures.
“Given the improved environment we are now confident to expand our development program for the current year to around $1 billion of new project,” Mr Lowy said.
He said the decision to start developments this year was reversing the decision of one year ago to put project commencements on hold.
Tags: 1 Billion, bankruptcy, Director Steven, Dollar Project, First Quarter, Joint Group, Lowy, Managing Director, Portfolios, Retail Sales, Store Closures, United Kingdom, United States, Westfield
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