Unibail-Rodamco-Westfield (URW), one of the leading global shopping mall operators, demonstrated robust operational performance over the review period.
Specifically, the developer reported a revenue increase to $3.38 billion, up from $3.22 billion the previous year.
This growth was supported by a 6.4% rise in tenant sales and a 4.9% increase in footfall, indicating strong consumer engagement and effective tenant management across its portfolio. Tenant sales grew 8% in continental Europe and 5.2% in the UK, while in the US figures surged by 3% compared to 2022, outperforming 2019 levels by 19.2%.
URW has taken decisive steps to enhance its financial health through strategic asset disposals. In 2023 alone, the company completed €1 billion in asset sales, contributing to a cumulative total of €5.1 billion since 2021. This proactive approach has reinforced URW’s liquidity position, with €13.6 billion readily available.
URW’s strategic focus on improving the shopping experience has been a key driver of its success.