Unibail-Rodamco-Westfield SE Stapled Security Chess Depository Interests Repr 0.05 Sh (AU:URW) has released an update.
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Unibail-Rodamco-Westfield announced an increase in the total investment cost for the Westfield Hamburg -Überseequartier project from €1.64 billion to €2.16 billion, attributing the rise to a delayed opening and various cost overruns. Despite this, the company expects no effect on its 2024 AREPS guidance and anticipates a modest increase in its H1-2024 LTV. The company is also exploring mitigating measures which are not yet factored into the current financial outlook.
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