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Westfield remains hushed about expansion Wednesday, 25th May 2011
Shopping center operator Westfield reconfirmed its earnings forecasts on Wednesday but kept quiet about a news report on its plans to expand in Europe.
Westfield has identified Europe as one of the next potential markets following its 2008 opening of Westfield London and Westfield Stratford City which is expected to open later this year.
It has been suggested that Westfield is in talks with Gruppo Percassi, an Italian developer, to develop a shopping centre in Milan. Also expansion in Brussels has been suggested after Westfield participated in a bidding war with rival developers for a site in the city.
When asked about the news report, Frank Lowy, who stepped down as executive chairman of Westfield recently, said: "It would be premature for me at this stage to give the timing, the location and the amount" of any plans concerning Westfield and new markets.
The firm kept its earnings forecast to pay out 48.4 cents a share in 2011, with operational earnings seen at 74.6 cents.