2 hours, 9 minutes ago SYDNEY, Australia - Australia's Westfield Group Ltd. said Wednesday it has reached agreements with British government and Olympic agencies to start building a 1.5 billion pound ($3 billion) shopping mall in east London.Westfield, the world's biggest owner and operator of shopping malls, will build the retail complex in Stratford City by 2011 after securing the agreements on the delivery of land, development rights and infrastructure, the company said in a statement to the Australian Securities Exchange.
The "retail and leisure development has both scale and significance, serving as a gateway to the Olympic Park and delivering real momentum to the regeneration of east London," said Westfield Chairman Frank Lowy.
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