Scentre Group (ASX: SCG) has delivered a robust performance in its 2025 operating update, underpinned by strong customer visitation, higher business partner sales, and near-full portfolio occupancy across its Westfield destinations in Australia and New Zealand.
The company reported 453 million customer visits across its 42 Westfield centres in the 45 weeks to 9 November 2025, an increase of 3.1% or 13.5 million compared with the same period in 2024.
This sustained growth underscores the Group’s strategic positioning in high-quality retail destinations and continued success in enhancing tenant engagement through the expanding Westfield membership program.
Key Operational Highlights
Scentre Group’s update revealed consistent momentum across its retail portfolio, reflecting solid consumer traffic and business partner performance.
Operational highlights include:
- Customer visits: 453 million (+3.1% year-on-year)
- Total business partner sales: $29.5 billion, up $760 million from 2024
- Sales growth (Q3 2025): +3.7% overall, +4.4% specialty sales
- Portfolio occupancy: 99.8%, up 40bps on 2024
- Average specialty rent escalation: +4.4%
- Leasing activity: 2,366 deals completed with +3.0% re-leasing spreads
- Westfield membership: 4.8 million members, +600,000 year-on-year
Chief Executive Officer Elliott Rusanow said the strong metrics demonstrated the Group’s operational strength and continued relevance of physical retail experiences.
“Demand for space from a diverse range of business partners is strong,” Rusanow said. “We continue to invest in unique offers and experiences to strengthen member engagement and drive visitation.”
Economic and Strategic Benefits
The update comes as Australia’s retail environment remains resilient despite macroeconomic challenges. Rising tenant demand, coupled with steady rent escalations, highlights Scentre Group’s capacity to capture value through diversified leasing and consumer-driven strategies.
With portfolio occupancy near full capacity, the Group’s Westfield destinations continue to serve as key hubs for retail, dining, and entertainment. This strong performance is aligned with broader trends of experiential retail, where premium locations attract sustained consumer spending.
Rusanow noted that the company’s focus on customer experience and digital engagement through its Westfield membership program has been pivotal in maintaining market leadership. “Our strategy continues to strengthen our relationships with customers and business partners alike,” he added.
Resource and Development Updates
Beyond operational performance, Scentre Group continues to progress its development pipeline and asset enhancement projects. These initiatives focus on optimising existing retail footprints and introducing new offerings that align with evolving consumer preferences.
The company’s disciplined approach to asset management and ESG integration remains central to its strategy. Scentre Group has maintained a consistent focus on sustainability initiatives across its centres, including energy efficiency and community engagement programs such as the 2025 Westfield Local Heroes, which recognises individuals driving positive community impact.
Market and Strategic Context
Scentre Group’s update arrives amid a shifting global retail and property landscape. With consumer spending stabilising and e-commerce growth moderating, premium physical retail assets are regaining strategic importance.
The Group’s strong fundamentals and Australian-based asset base provide a jurisdictional advantage, particularly as international investors seek exposure to stable, income-generating property portfolios.
The company’s performance also reflects broader confidence in Australia’s retail property market, where demand for well-located shopping destinations remains resilient despite higher interest rates and inflationary pressures.
Investor Outlook
At the time of the announcement, Scentre Group shares (ASX: SCG) were trading at $4.16, up $0.02 (0.48%) for the day, with a market capitalisation of $21.59 billion. The stock has traded in a steady range through 2025, supported by consistent operational updates and dividend stability.
Investor sentiment remains positive, with analysts citing the Group’s strong occupancy, resilient rental growth, and customer-centric strategy as indicators of ongoing value creation. The company’s continued ability to deliver steady cash flows positions it favourably against peers in the retail real estate sector.
Also Read: Commonwealth Bank of Australia Reports Capital Adequacy and Risk Disclosures as at 30 September 2025
Conclusion
Scentre Group’s latest operating update reinforces its leadership in Australia’s retail property sector. Sustained growth in visitation, strong leasing performance, and expanding membership engagement highlight the Group’s resilience and adaptability in a dynamic market.
As global retail trends continue to evolve, Scentre Group’s commitment to delivering high-quality experiences and maintaining near-full occupancy across its Westfield portfolio positions it as a stable, long-term performer for investors seeking exposure to Australia’s premier retail destinations.
FAQs
- What is Scentre Group’s latest operating update?
Scentre Group’s 2025 operating update reports a 3.1% rise in customer visits to 453 million and $29.5 billion in total business partner sales, highlighting strong leasing demand and portfolio performance.
- How did Scentre Group (ASX: SCG) perform in 2025?
In 2025, Scentre Group achieved steady growth with 99.8% portfolio occupancy, 4.4% specialty sales growth, and 2,366 leasing deals completed across its Westfield centres.
- What is driving Scentre Group’s retail performance?
Strong customer engagement, high tenant demand, and the expanding Westfield membership program, now exceeding 4.8 million members, are key drivers of Scentre Group’s 2025 success.
- What is Scentre Group’s market capitalisation and share price?
As of November 2025, Scentre Group’s market capitalisation stands at approximately $21.6 billion, with shares trading around $4.16 on the ASX.
- Why is the Scentre Group operating update important for investors?
The update highlights consistent cash flow, strong leasing metrics, and resilient retail fundamentals, reinforcing investor confidence in Scentre Group’s long-term stability.
- What is the outlook for Scentre Group in 2026?
Analysts expect Scentre Group to maintain strong occupancy and steady rental growth, supported by sustained consumer traffic, new development projects, and digital engagement initiatives.
