Westfield operator Scentre Group has lifted its outlook after strong half-year results, buoyed by resilient spending, rate cuts and tax relief.

Chief executive Elliott Rusanow told The Australian that momentum has carried into July, with more than 340 million customer visits in the past year.

Business partner sales hit a record $29.3 billion in the 12 months to June 30, an increase of $719 million on the same period last year.

Scentre reported higher earnings and upgraded its second-half distribution guidance. Profit for the half reached $782 million, helped by property revaluations, while occupancy across its 42 centres rose to 99.7%, the strongest level since 2017.

As of late June, Scentre’s portfolio was valued at $34.7 billion.

“Our business partners achieved record sales of $29.3bn in the 12 months to 30 June, 2025, an increase of $719m on the same period in 2024,” Rusanow said.

“This is approximately $5bn more sales generated through our destinations than in 2019.”

Bosses might not like WFH, but retailers sure do

Rusanow believes malls are benefiting from work-from-home patterns that kept people closer to shopping centres.

“I would say our business is the beneficiary of work from home and the changes,” he said.

The group is also leaning into luxury and lifestyle services, with Bondi Junction’s revamp pitched as Sydney’s premier fashion destination, even as rival Vicinity Centres lures LVMH north to Chatswood.

Beyond retail, Scentre is moving into housing, with approvals secured at Warringah Mall, Hornsby and Belconnen.

For investors, the Scentre update underscores the durability of malls in the e-commerce era.

With record sales, rising foot traffic and new mixed-use projects in the pipeline, Scentre is positioning itself as more than a landlord. It’s aiming to turn its Westfield centres into lifestyle hubs where people shop, work and increasingly live.