Westfield Group (WDC)
Westfield Group on the ASX Stock Exchange
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Westfield Group is one of the world's largest listed property trusts with significant exposure
around the world to the shopping centre market. Westfield group's main exposure is in Australia, New Zealand, USA
and the UK. With such a large presence around the world it has made the original founder, Frank Lowy, one of the
richest men in Australia and even the world.
Westfield group's business activities include a range of diversifying activities including
development, construction, design, leasing, funds management and asset management and marketing activities. In
Australia the Westfield Group is the most dominant shopping centre conglomerate and nearly every Australian citizen
would have been to at least one if not more of their successful shopping centres.
By mid-2008 Westfield Group had direct exposure and interests in 119 shopping centres around the
world valued in excess of $60 billion Australian. This amazing diversification around the world comprises 44
centres in Australia, 55 in the United States, eight in the United Kingdom and 12 in New Zealand.
Westfield group also has interests in some funds and asset management activities and manages
assets on by halves of institutional and other investors under a joint-venture agreement.
During the economic upheaval of 2008, at Westfield Group’s share price managed to be one of the
strongest performers in the market but unfortunately towards the end of 2008 the share price took a nosedive and
managed to fall from $18 down to $11 in February 2009.
Westfield Group Quick Facts (as of Jan 2012)
- Chairman:Mr Frank P Lowy
- MD/CEO: Mr Peter S Lowy
- Industry Group: Real Estate
- Shares on issue: 2,308,988,539
- Market Cap: $19,322,833,947