HIGHPOINT Shopping Centre will undergo a significant development program that will result in approximately 100 additional specialty retailers, a David Jones department store and an upgraded Woolworths.

Works on the $300 million development should commence by the end of next month and are due to be completed within approximately two years.

The centre, located in Maribyrnong and owned by Highpoint Property Group (Besen Family), GPT Wholesale Shopping Centre Fund and The GPT Group (GPT), will grow by 30,000 square metres to a total of 156,000 square metres as a result of the development.

Michael Cameron, CEO and Managing Director of The GPT Group, said the development would provide "an extensively enhanced retail offer, the creation of significant job opportunities, improved traffic flow, new public spaces and sustainability initiatives."

The project also includes upgrades to the ring road, the creation of two new centre entries and 1,000 new car spaces, bringing the total number of car spaces to over 7,000.