Westfield co-founder Frank Lowy inducted into Australian Property Hall of Fame

Frank Lowy, the co-founder and chairman of the Westfield Group, has been inducted into the newly launched Australian Property Hall of Fame.

Lowy received the industry honour in front of 600 guests at the Property Council’s Property Congress gala dinner in Sydney last night.

The Australian Property Hall of Fame has been established by the Property Council of Australia to "honour individuals for their major pioneering contribution, sustained leadership and lasting legacy to the property industry and Australian society".

Lowy founded what was later to become Westfield alongside fellow Hungarian immigrant John Saunders.

Their first venture as business partners was in a small sandwich selling partnership until they set up their own delicatessen in Blacktown. They opened their first shopping centre, Westfield Place in July 1959.

Lowy came to Australia with his family via Israel in the early 1950s having survived the Nazi occupation of Hungary.

Lowy was inducted alongside the late Dick Dusseldorp, founder and chairman, of Lend Lease Corporation and the late Ray Powys, AMP’s first property investment manager and founding president and inaugural CEO of the forerunner to the Property Council, the Building Owners and Managers Association.

Property Council National President Darren Steinberg said each of the three inductees were giants of the industry.

“The Australian Property Hall of Fame acknowledges property industry pioneers whose astonishing imagination, unbridled energy and keen entrepreneurial talents transformed Australia into a dynamic, prosperous society,” Steinberg said.

“The inaugural inductees not only shaped Australia’s urban landscape, they helped unleash an aspirational ethos and vitality that defines our national identity.”