Scentre Group Reports Growth in Visitation and Sales, Advances Redevelopment Projects

The latest update is out from Scentre Group ( (AU:SCG) ).

Scentre Group has reported an increase in customer visitation and business partner sales at its Westfield destinations, with a 2.3% rise in visitors and a 2.8% increase in sales for the first quarter of 2025 compared to the previous year. The company is progressing with redevelopment projects, such as the Westfield Bondi and Westfield Sydney expansions, and has completed a significant financial restructuring with the redemption of $1 billion in notes. Additionally, Westfield Warringah has been declared a state significant development, offering potential for substantial residential growth. The company maintains a strong leasing demand with a 99.6% occupancy rate and anticipates continued financial growth for the year.

More about Scentre Group

Scentre Group (ASX: SCG) is a prominent real estate company that owns and operates 42 Westfield destinations across Australia and New Zealand. These destinations encompass over 12,000 outlets, focusing on creating extraordinary places that connect and enrich communities. The company’s ambition is to grow by becoming essential to people, their communities, and the businesses that interact with them.

Average Trading Volume: 11,811,268

Technical Sentiment Signal: Strong Buy

Current Market Cap: A$18.83B

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