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Westfield Group (WDC) is a real property management group vertically integrated and internally managed with a global portfolio. Its operations involve property management, shopping centre investment, property development, leasing and marketing, funds/assets management and design and construction. WOS was listed on the Australian Stock Exchange on the 5th of July 2004. Its average annual revenue reaches approximately AUD$6 million. Its headquarters is located in Sydney, Australia. Westfield Group operates mainly in three business segments: Funds, Property Development and Property Management.

The Funds segment of Westfield Group is involved in assets management for institutional investors and others. The investments made by the institutional investors are taken on the basis of joint venture on the specific properties with the partners of Westfield Group. Some of the partners of Westfield Group for the funds management are the Deutsche Asset Management, AMP Capital Investors, JP Morgan Real Estate Investment Management, the Perron Group, Prudential Plc and the Australian Prime Property Fund (APPF).

The Property Development segment of Westfield Group (WDC) is in charge of the management of the leasing activities, design, construction as well as the development of the group. Before the construction project is commenced, the company would have to enter into leasing or tenancy agreement.

The Property Management segment of Westfield Group is in charge of the day-to-day management, leasing and marketing of the different centres under the umbrella of the company.

Westfield Group (WDC) Company History

Through the merging of the companies, Westfield Holdings, Westfield America Trust, and Westfield Trust, the company was established in July of 2004. The group, in the same month, got listed on the stock exchange of Australia.

Also, the group obtained a 4.8 percent stake in November of the same year, in General Property Trust and the company got a 97.3 percent acceptance when they bid to get Duelguide.

In May of 2005, the group reached an agreement for the further 25 percent interest purchase for more or less than 118.73 million US dollars in White City, which increased the group’s ownership of the company development to 50 percent.

In June 2005, New York, the company’s portfolio was expanded, subsequently making an agreement to get a 100 percent interest for 143 million US dollars in the New York’s Sunrise Mall, which is located in Massapequa. Three months later, the group sold 6.53 percent of its holdings with the other company, the General Property Trust, for a total of 518 million US dollars.

In October of 2005, the company announced the Westfield Helensvale shopping center’s inauguration on the Gold Coast by Queensland Premier Peter Beattie.

In December of 2005, the company’s plans were revealed for an office and retail development project, which was a world class, a 600 million US dollar project that would be located in Sydney.