Unibail-Rodamco completes the aquisition of Westfield to form Unibail-Rodamco-Westfield
Unibail-Rodamco today announces that it has completed the acquisition of Westfield, to create Unibail-Rodamco-Westfield, the premier global developer and operator of flagship shopping destinations.
Unibail-Rodamco-Westfield combines two of the strongest and most respected names in the real estate industry to build on their legacies.
With a portfolio valued at €62 Bn1, of which 88% in retail, 7% in offices and 6% in convention & exhibition venues, Unibail-Rodamco-Westfield owns and operates 102 shopping centres in 13 countries, of which 56 are flagships in the most dynamic cities in Europe and in the United States. Its centres welcome 1.2 billion visits per year.
The Group provides a unique platform for retailers and brand events and offers an unparalleled experience for customers. It will leverage the world-famous Westfield brand by gradually rebranding Unibail-Rodamco flagship assets.
Looking forward, Unibail-Rodamco-Westfield boasts an unrivalled development pipeline of €13 Bn2. Capitalising on its « Better Places 2030 » agenda, to be implemented in the entire Group, Unibail-Rodamco-Westfield’s development projects are designed to create “better places” that respect the highest environmental standards and contribute to better cities.
Christophe Cuvillier, Group Chief Executive Officer, commented: “Today is an extraordinary day as we bring together Westfield’s and Unibail-Rodamco’s outstanding assets and 3,700 talented professionals. We look forward to writing together a new chapter in our history. With an unparalleled track-record and know-how in retail, offices and convention & exhibition venues, the Group is ideally positioned to generate superior value and develop world-class projects.”
Unibail-Rodamco-Westfield is listed on Euronext Amsterdam and Paris (Euronext ticker: URW). A secondary listing has been established in Australia through Chess Depositary Interests.