By  on February 13, 2019

PARIS — Unibail-Rodamco-Westfield plans to shed an additional 4 billion euros of real estate in the coming years as the mall giant bets on a streamlined collection of top shopping centers, in step with the global retail industry’s focus on fewer, more select stores.

“We do not want to have pressure on our shoulders to dispose, there is no urgency as such, it’s a strategic decision,” said Unibail-Rodamco-Westfield chief executive officer Christophe Cuvillier in a conference call with analysts, citing a five-year plan. Disposals could vary year by year, and the company, which owns 93 shopping centers in the U.S. and Europe and has already sold 2 billion euros worth of assets, will consider the performance of its assets one by one as it seeks to lower its ratio of debt, he added.

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