Shopping center Westfield Group will soon commence its $1 billion development project this year after its transformation in the global market.

The company disclosed on Tuesday that it showed strong results from the Australian and New Zealand markets despite the low sales growth for this quarter.

Both countries received a full occupancy at 99.5 per cent.

Steve Lowy, the group managing director, explains further that there was also an improvement in its portfolios in the United States and United Kingdom after several store closures due to bankruptcy.

"Given the improved environment we are now confident to expand our development program for the current year to around $1 billion of new project," Mr Lowy addressed participants in a conference today.

Mr. Lowy added that the development project was supposed to start last year, but it was put on hold. He said $800 million of the new projects will be put in Australia while the remaining $200 million will be placed at New Zealand.

He also unveiled the plans for the company to undertake smaller projects in the United States which is worth $200 million.

He also reconfirmed the company's distribution forecast for 2010 with a 64 per cent security which will be acquired on a payout level between 70 and 76 per cent of profits.