Frank Lowy plans to stay as Westfield signals keeping its World Trade Centre Mall

Frank Lowy plans to stay as Westfield signals keeping its World Trade Centre Mall
Frank Lowy plans to stay as Westfield signals keeping its World Trade Centre Mall

Westfield has no short-term plans to sell a chunk of its $2 billion World Trade Centre mall in New York, according to The Australian in an exclusive interview.

Featured on the front pages of the newspaper and its business section, but behind the paywall, it furthermore noted Frank Lowy has no intention of retiring as chairman of Westfield Corporation any time soon, his son Steven told Turi Condon.

Frank Lowy plans to stay as Westfield signals keeping its World Trade Centre Mall

Its front page has images of the pride of Westfield's work, the ceiling, named Oculus due to its whalebone-like structure.

"The Calatrava building will become one of the world's iconic pieces of architecture in one of the most sacred sites in the US, if not the world," said Steven who was at the WTC.

Westfield bought the World Trade Centre mall in July 2001, months before the September 11 terrorist attacks.

The reimagined mall, part of Westfield's $11.4 billion development program have retained some stores such as Victoria's Secret and Duane and Reade but have added a new generation of retailers.

Popular electronics company Apple will take up two levels and the food emporium Eataly will take up about 11 percent of the 112,000 sqm floor.

The first stage is due to open before the northern summer with most of the retailers to open in the second half of the year.

Following Lowy's decision to retire as the chairman of ASX-listed Scentre Group, the Westfield chairman's son however reconfirmed he will be staying on at Westfield after recovering from his operation.

"Dad is very strong physically and mentally," Steven said.

"He has continually said as long as he is strong and capable, and enjoying what he does, he will continue to do that"

Frank Lowy sustained a blood clot near his brain following a heavy fall from the podium during the A-League grand final presentation last May.

He is due to visit the World Trade Centre development in a few months.

 

 

 

Joel Robinson

Joel Robinson

Joel Robinson is a property journalist based in Sydney. Joel has been writing about the residential real estate market for the last five years, specializing in market trends and the economics and finance behind buying and selling real estate.

Tags: 
Westfield World Trade Centre

Comments

Be the first one to comment on this article
What would you like to say about this project?