Revaluations lift Westfield result.

Australasian Business Intelligence,  August, 2006  

• E-mail
• Print
• Link

Byline: Turi Condon

Aug 29, 2006 (The Australian - ABIX via COMTEX) -- Westfield has posted net profit of $A3.38bn due to property revaluations of $A2.69bn in 2005-06. The world's biggest shopping centre owner intends to launch a $A2bn wholesale fund, which will include a 50% stake in Westfield Parramatta. The Australian group has commenced an $A8bn development program covering 21 centres. It sold eight US properties for $US550m ($A722m) and will develop the Stratford City site in London. Another project is London's biggest shopping centre, the Stg1.6bn White City development. ...

Read the rest of this article with a Free Trial at HighBeam Research.