Stockland Corporation Limited (ASX:SGP) has confirmed it will undertake a $377 million redevelopment and expansion of its Green Hills Shopping Centre in the Lower Hunter Valley of New South Wales.
 

Works will commence in January 2016. The property developer will more than double the size of the centre to create approximately 70,000 square metres of gross lettable area when the redevelopment is complete in mid-2018.
 

It is estimated the redevelopment of Stockland Green Hills will generate more than 1,350 direct jobs during construction and more than 2,150 indirect jobs.
 

Stockland Managing Director and CEO Mark Steinert said Stockland Green Hills was already one of the most productive centres in Australia and highlighted the centre as a highly accretive redevelopment opportunity.
 

Stockland recorded a net profit of $903 million at 30 June 2015.