News: Westfield eyes $4.5B UK investment

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Westfield Group (ASX:WDC) is reportedly planning to invest an extra $4.5 billion into major British shopping centres in the coming years.

Co-chief executive, Steven Lowy, has told The Australian the company has plans to invest into its current UK assets as well as other expansion.

Westfield entered the UK market in the year 2000; Mr Lowy has noted the current lull over the economy but says London is a resilient city and the company believes in it for the long term.

Mr Lowy has also advised Westfield has a strong balance sheet, boosted by a sterling-denominated issue in the public debt markets a few weeks ago.



In the 2011 financial year Westfield Group reported a net profit of $1.5 billion.