Scentre Group thrives as customers return to malls

(Source: Bigstock)

As customers return to malls in the post-Covid ‘new normal’ Scentre Group says it is now focused on “creating places more people choose to come, more often, for longer”.

In the three months to September 30, the group achieved AU$6.4 billion in sales from 42 Westfield Living centres across Australia and New Zealand – up $2.7 billion more than last year.

Scentre’s business partners – tenants – achieved $18.4 billion in sales, up 23.6 per cent compared to the same period last year while portfolio occupancy has risen by 98.8 per cent highlighting strong demand from businesses.

About $670 million has been collected in rent as of September 30 which is an increase of $235 million compared to the same period last year. The group membership program has now exceeded 2.9 million members – an increase of 200,000 during the quarter.

CEO Elliot Rusanow said the business is confident in its customer-focused approach and strategy to become essential to the people and communities.

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