WA set for retail development boom

PERTH: Western Australia's booming economy is behind a retail development boom expected to see at least 12 new shopping centres built in the next three years.

The developments, outlined in the annual Property Council/Lease Equity Retail Development Survey, has shown that tge gross lettable area for  retail developments in the state will soar by 210,000 square metres by 2011.

To put it into perspective, the growth in shopping centres is the equivalent of three times the size of the Carousel Shopping Centre. It is believed the developments will be clustered around the growth areas of Mandurah and Joondalup.

Lease Equity associate director Adam Musbah said the development has been driven by the economy but also opportunities in developing areas.

"The proposed development incorporate 18 majors and equate to over $450 million in increased turnover per annum from  those tenants."