Westfield says not yet ready for new U.S. investment

SYDNEY: Westfield Group, the world's largest shopping mall landlord by market value, is not yet ready to make major new investments in the United States, co-managing director Peter Lowy said Feb 17.

The group has said it would restart development projects in Australia, where the economy has remained resilient, but Lowy said conditions in the United States and New Zealand had not yet returned to levels that would warrant new investment.

He was speaking at a results briefing after the firm reported a 2009 operating profit of A$2.06 billion ($1.86 billion). -- Reuters