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Westfield Retail Considers Redevelopments to Buoy Returns

Westfield Retail Trust, the listed vehicle spun off from Westfield Group, is planning as much as A$300 million ($312 million) of redevelopments a year and may sell some malls as it seeks to boost shareholder returns.

“There will be one or two projects we will push the green light on before the end of the year,” Managing Director Domenic Panaccio said in an interview in Sydney yesterday, declining to name potential projects. “There may be opportunities to recycle assets, which will include disposals, potentially this year.”