Westfield Corporation improves their portfolio continually by redeveloping their shopping centres as well as purchasing new sites with development opportunities. Westfield Corporation’s future development program is estimated to be $9.5 billion. The funds are intended for redeveloping iconic projects like the Century City in Los Angeles and Croydon in London. Below are expected Westfield Corporation plans and the ones it has already established
Westfield World Trade Center is an iconic building that New Yorkers identify with from the time it opened its gates in August 2016.
Westfield Century City’s transformation will be another project that the company will take on. The features of this new building will include the Nordstrom’s three stories Los Angeles stores that will host their latest designs, a refurbished 3 level Bloomingdale’s, a new two story Macy’s, and the famous Eataly. The new Century City experience will host 421,000 feet of retail stores, street side boutiques from prestigious brands, award winning restaurants, and five entertainment amenities fitted with the modest digital technologies. One of these is a Virtual Reality Multiplex, which is in collaboration with Dreamscape and Stephen Spielberg. The total area of the redevelopment will be 1.2 million square feet. And after re-opening next year, “it is projected to ring up $1.3 billion in sales” according to Chief Exec Peter Lowy, compared to $200 million when first purchased in 2002.
Westfield London is also on the roadmap of the corporation’s redevelopment. The financing cost of this building will be £1 billion which will add 665,000 square feet of residential, retail, and mixed space to bring about a new phase of a townscape that has a vibrant pedestrian quarter.
In Milan, Westfield Corporation, together with Gruppo Stilo plans to build one of Europe’s luxury retailer stores accompanied by the best dining and leisure facilities on a sixty hectares site that is opposite to Linate airport. Another group venture that Westfield has taken on is in south London that is estimated to cost £1.4 billion. The joint venture will be between Hammerson and Westfield to reconstruct the Whitgift which is adjacent to the Centrale shopping center. This project will change the face of retail stores in Croydon making the area a premier shopping destination.
Westfield Valley Fair also has detailed plans to invest $1.1 billion on a 150,000 square foot lot. A three story Bloomingdale’s stores and a five-star ICON cinema that are scheduled to be up in 2019 will be one of the features here. This new development will include the reconstruction of many worlds’ finest luxury brands and the birth of a new dining district which will mainly consist of outdoor lounges. Besides the exhilarating entertainment, the latest customer amenities will be available at the convenience of any part of the building. The transformed Valley Fair will host 2.2 million square feet.