Shopping centre giant Westfield Group has reconfirmed its 2010 guidance on Tuesday and revealed of new development projects in Australia and the US that could reach $1 billion even as slowed down sales and lacklustre growths were seen on the company's local and worldwide operation.

According to the Australasian Investment Review, the company said that its first quarter update revealed strong results from Australia and New Zealand amidst market expectations of softening sales growth, as it specified that much of the new investments being lined up will be in the country where $800 million worth of projects will commence soon.

Westfield managing director Steven Lowy said that the company is also undertaking smaller projects in the United States totalling to $200 million, as he stipulated the following local construction plans in the country: Sydney City Office Tower in Centrepoint CBD, $350 million; Belconnen in the ACT, $125 million and Fountain Gate in Melbourne, $250 million.

He expressed confidence that the company's expansion programs are in line with a much improved environment as retail sales and occupancy in both UK and the US have seen growth following reductions in bankruptcy store closures.

Mr Lowy admitted that this year's lined up projects will reverse last year's decision to hold off Westfield's projects, and as seeming testimony to the company's healthier state, he reconfirmed its 2010 distribution forecast of 64c per security based on a payout level of about 70 to 75 percent earnings.

He revealed that Australian sales in the year leading to end of March grossed a total of $21.5 billion as Westfield's operated mall in the country and New Zealand saw full occupancy at 99.5 percent.

The company's US malls, which is more than half of its 119 overseas shopping centres, increased 5.3 percent on a headline basis form a year ago though still 5.4 percent down on a comparable store basis.

Mr Lowy said that Westfield is preparing to undertake pre-development activities that could reach a total investment of $A10 billion and is poised to embark on up to $1 billion worth of projects each year commencing in 2011.