Unibail-Rodamco-Westfield SE Stapled Security Chess Depository Interests Repr 0.05 Sh (AU:URW) has released an update.
Unibail-Rodamco-Westfield has announced the postponement of the Westfield Hamburg-Überseequartier’s retail opening to late Q1-2025, attributing the delay to additional time needed for operational systems’ commissioning. Despite the setback, 93% of the retail space is leased, with over 75% of tenants ready to open. The delay is projected to incur €100 million in extra costs, but the company assures it will not affect the fiscal year 2024 earnings guidance.
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