There have been 125 new brands introduced across the centres with a focus on dining, interactive “experiences” such as JD Sports and the booming athleisure categories, the company said.

This is evident in the newly revamped Knox Centre in Melbourne, which has a new recreation precinct including a full-sized, FIBA-grade basketball court and a nature-inspired outdoor kids play area. In Parramatta, there will be a focus on luxury brands, still one of the fastest-growing retail segments.

Scentre’s $300 million-plus Sydney development with Cbus property at the former David Jones menswear store on the corner of Market and Castlereagh Streets is getting closer to completion and will also focus on luxury with four floors of high-end fashion and accessories, the company said.

UBS analyst Grant McCasker said the health of the Scentre portfolio is “robust with improving occupancy”.

Retail sales at its centres continued improving over the June half, despite rising costs of living. Total retail sales at Scentre’s malls rose 9.1 per cent from the same time last year and were up 13.6 per cent on the June half in 2019.

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In a category breakdown, specialty sales were 7 per cent higher compared to the same period in 2022 and 18.5 per higher compared to 2019.

Sales growth at supermarkets led the charge with 10 per cent, followed by discount department stores at 6.6 per cent and department stores at 3 per cent.

The biggest sales generators though were dining, health, beauty, leisure and sports tenants, reflecting the demand by customers for a quick hit with a new lipstick or a nice meal.

Scentre declared an interim distribution of 8.25¢, payable on August 31 and forecast a full-year payment of “at least 16.5¢, representing at least 4.8 per cent growth for the year”.

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