The Westfield Shopping Centre brand is one of the most recognized names in retail property, with a global presence across Australia, New Zealand, the United Kingdom, Europe, and the United States. The first Westfield centre was founded in 1959 in Sydney, Australia, by Sir Frank Lowy and John Saunders. What started as a small retail development grew into a worldwide network of shopping centres that have become landmarks in major cities.
Today, Westfield is no longer owned by one single person or family. Instead, its ownership is divided between two major publicly traded companies. In 2014, the Westfield Group was restructured, leading to the creation of Scentre Group, which now operates all Westfield-branded shopping centres in Australia and New Zealand, while Unibail-Rodamco-Westfield (URW) became the operator of Westfield centres in Europe, the UK, and the United States after acquiring Westfield Corporation in 2018.
Ownership Details of Westfield
| Owner / Entity | Region of Ownership | Notes |
|---|---|---|
| Scentre Group | Australia & New Zealand | Publicly traded on the ASX, operates 42 Westfield shopping centres. |
| Unibail-Rodamco-Westfield | Europe, UK & United States | French real estate giant; acquired Westfield Corporation in 2018. |
| Sir Frank Lowy (Founder) | Legacy role, no longer an owner | Built Westfield empire; stepped down after the URW acquisition in 2018. |
This structure means Westfield is not privately owned but run by corporations where shares are held by institutional investors, mutual funds, and retail shareholders.
Westfield Shopping Centre Owner – Frank Lowy’s Legacy
Although Sir Frank Lowy is no longer an owner, his name is inseparably tied to Westfield’s success. He co-founded the business in 1959 and turned it into a multi-billion-dollar empire. Lowy, along with his sons David, Steven, and Peter Lowy, managed Westfield for decades before selling Westfield Corporation to URW in 2018. While Frank Lowy has retired from active ownership, his estimated net worth runs into billions of dollars, highlighting the scale of the fortune built from Westfield.
FAQs
1. Who owns Westfield Shopping Centre?
Westfield centres in Australia and New Zealand are owned by Scentre Group, while those in Europe, the UK, and the US are owned by Unibail-Rodamco-Westfield (URW).
2. Westfield shopping centre owner net worth
Founder Sir Frank Lowy has a net worth in the billions, but today Westfield is owned by shareholders of Scentre Group and URW, both public companies.
3. Westfield shopping centre owner daughter
Frank Lowy does not have a daughter involved in Westfield. His three sons—David, Steven, and Peter—were key in managing the empire.
4. Scentre Group owner
Scentre Group is a publicly listed company on the Australian Securities Exchange (ASX) with no single private owner.
5. Westfield shopping centre owner Frank Lowy
Frank Lowy is the co-founder and former chairman of Westfield, who built the company into a global leader before stepping away in 2018.
6. What was the Westfield Group?
The Westfield Group was the original company operating all Westfield centres worldwide. It was split in 2014 into Scentre Group and Westfield Corporation.
7. What is Unibail-Rodamco-Westfield?
URW is a French multinational commercial real estate company that owns Westfield centres in Europe, the UK, and the US.
8. Who owns Westfield UK?
Westfield UK centres, such as Westfield London and Westfield Stratford City, are owned and operated by Unibail-Rodamco-Westfield (URW).
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