The owner of the world's largest shopping centers by market value, the Westfield Group has revealed that retail sales in all its centers across UK have climbed at the fastest rate in 7 long years for the month of October. Also, as confirmed by the company's Managing Director Steven Lowy, the rate of store closings has also dropped since the number recorded for the March quarter.

"We hit a low point in March. Since March, we have seen two quarters of growth and stabilization in sales in the U. S. and increase in sales in the UK", Lowy shared.

Westfield's London shopping mall was inaugurated last year, a time when the global economic downturn was at its worst. But the center has managed to surprise everyone by recording over 20 million visitors and signing over 15 new tenants. UK's retail sales recorded a 3.7% rise for the July-September period for the current year compared to the same period for the previous year.

In the light of the new development, and the fact that the mall owner is reporting equally good sales rises from most of its other units, Westfield might get into some new projects and restart some old ones. No confirmations about the same have yet been made though.