Westfield to Boost Overseas Investments on Retail Growth
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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.
The company expects 60 percent of its interests in projects to be in the U.S. and U.K. in about four years, from about 55 percent now, Lowy said in a telephone interview from Sydney. Westfield is also on the hunt for a new “unique” market in Western Europe, similar to Milan, where it will next year start building one of the region’s biggest shopping malls, he said.