LONDON, Jan 15 (Reuters) - UK mall developer Capital Shopping Centres is changing its name to intu properties as it seeks to create a single brand for the company.
The company, which owns more than 16 million square feet of shopping space valued at 7 billion pounds in some of the UK’s biggest malls such as the Trafford Centre in Manchester, said on Tuesday it would change its name and stock ticker on Feb. 18.
It will also rename 12 of its 15 shopping centres, including Metrocentre in Gateshead and Lakeside in Essex, south-east England, to incorporate the intu name, it said in a statement.
The company, which was formed following a demerger of Liberty International in 2010, said it would invest 25 million pounds ($40.17 million) into creating the brand, launching an internet shopping website and installing WiFi in its centres.
Many shopping centre owners have in recent months striven to handle the growing popularity of online shopping, which has been blamed for drawing shoppers away from high street shops and some shopping centres, by installing WiFi in their centres or becoming active on social media.