Westfield Group, the world’s biggest shopping mall operator by assets, plans to increase investments in the U.S. and U.K. to take advantage of rising retail demand, Co-chief Executive Officer Peter Lowy said.
Westfield Group , the world’s largest owner of shopping centers by market value, doesn’t expect a double-dip recession in the U.S. after a recovery in the world’s biggest economy helped drive a return to profit.
Westfield Group, the world’s biggest shopping mall operator by assets, is seeking joint-venture partners for developments and expansion in Brazil and Asia after a 69 percent surge in project income helped boost first-half earnings.
Westfield Group , which last year spun off a unit owning stakes in its Australian and New Zealand malls to boost shareholder returns, prefers joint ventures with institutional investors for its U.S. and U.K. assets.
Westfield Group , the world’s biggest shopping-center owner, is making a $1.2 billion bet that its new mall in east London will thrive long after the 2012 Olympic Games are over. That’s because it’s targeting some of the country’s wealthiest consumers.
General Growth Properties Inc. Chief Executive Officer Sandeep Mathrani said he’s watching rival mall owner Westfield Group ’s planned sale of 17 U.S. properties before choosing a strategy for trimming his company’s holdings.
Westfield Group said it had formed a $4.8 billion joint venture with the Canada Pension Plan Investment Board and plans to buy back as much as 10 percent of its stock, sending its shares up the most in 2 1/2 years.
Westfield Group, the world’s biggest shopping center operator by assets, will sell eight malls in the U.S. for $1.15 billion, using the funds to repay debt and invest in businesses offering higher returns.