Operating under the Westfield brand in Australia and New Zealand, Scentre Group Limited has a portfolio of retail real estate assets valued at $54.2 billion and shopping centre ownership interests worth $39.1 billion.
Within this, there are 41 Westfield “living centres”, what were previously known as as shopping centres.
The name change for the bricks-and-mortar element of the Westfield offering is part of a larger organisation-wide shift the business has undergone in recent years, a shift which has seen the focus move from retail tenants to consumers.
Scentre Group’s Head of Content and Programming, Bronwyn Cooper, told Mumbrella’s Retail Marketing Summit in Sydney: “For decades, our customer was the retailer, not the end customer. As we have wholly realised our business toward that end customer, it’s fundamentally changed the way we design our centres, how we own and operate them, and how we look for opportunities for brands to connect with the seven million individuals that come through our centres every month.”