Australian shopping centre owner Westfield continues to perform well with solid rental growth and high occupancy rates, according to its latest operational performance update.
Managing directors, Peter Lowy and Steven Lowy said that, for the three months ended 30 September 2005, shopping centre operations continued to give a good performance with solid “specialty” store rental growth and high occupancy achieved in all markets.
They added that the group remained focused on creating significant value through its development programme with a total of 19 projects currently under construction at a forecast cost of Aus$6.9bn (£2.9bn).
Westfield Group currently has interests in 130 shopping centres in the United States, Australia, the UK and New Zealand with a value of around Aus$48bn (£20bn).
References: EGi News 09/11/05
