Unibail-Rodamco-Westfield

7 Place du Chancelier Adenauer, 75016 Paris, France

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About Unibail-Rodamco-Westfield

Summary

Unibail-Rodamco-Westfield SE is a multinational commercial real estate company headquartered in Paris, France. It is one of the largest commercial real estate firms in Europe, with a significant presence in North America, including the ownership and operation of Westfield shopping centres across the EU, UK, and the US. The company was formed in 2018 following the merger of Unibail-Rodamco and Australian shopping centre operator Westfield Corporation. Unibail itself was founded in 1968 in France, while Rodamco Europe was established in 1999 in the Netherlands.

The company’s portfolio includes retail properties, office buildings, and convention centres, focusing on high-traffic shopping centres, particularly those carrying the Westfield brand. As of 2024, Unibail-Rodamco-Westfield owns 87 shopping centres across Europe and North America, attracting millions of visitors annually. Its operations are listed on both the French CAC 40 and the Australian ASX 300 stock exchanges.

Unibail-Rodamco-Westfield’s business is structured into three main areas: development, investment, and operations, with assets primarily in retail, offices, and convention centres. Its portfolio spans 11 countries across Europe and North America, contributing significantly to the company’s position in the commercial real estate industry.

The company is listed in several sustainability indexes, including the Dow Jones Sustainability Index and FTSE4Good. It has also achieved an A rating from both Standard & Poor’s and Fitch Ratings. Unibail-Rodamco-Westfield is committed to environmental, social, and economic sustainability, with its developments and operations focused on creating vital, long-term value for the communities in which it operates.

History

Unibail was founded in 1968 as a finance-leasing unit by Worms & Cie in France. In 1991, the company shifted its focus to property investment, phasing out its lease financing activities. Over the following years, Unibail expanded its portfolio with close to 30 shopping centres across France, including the Forum des Halles and the arcade within CNIT, as well as substantial office properties in Paris and La Défense, such as the Tour Ariane and the Paris Expo group of convention centres.

Rodamco Europe was established in 1999 after Rodamco, a property investment fund set up by Dutch asset management group Robeco in 1979, split into independent listed companies. Rodamco Europe subsequently focused on shopping centres and retail spaces across 14 European countries, while also acquiring office properties in France and the Netherlands.

The merger of Unibail and Rodamco Europe took place in 2007, forming Unibail-Rodamco. The merger created the largest publicly traded property company in Europe. The deal was finalised in June 2007, with Unibail acquiring 80% of Rodamco’s shares. In 2011, Christophe Cuvillier was appointed COO of Unibail-Rodamco and, together with CEO Guillaume Poitrinal, led the company through a period of growth despite challenging economic conditions.

In 2015, Unibail sold its 46.1% stake in the German shopping mall operator MFI AG for €394 million, in an agreement with the Canada Pension Plan Investment Board.

In 2018, Unibail-Rodamco merged with Australian shopping centre operator Westfield Corporation, acquiring 35 shopping centres in the US and UK for US$24.8 billion. The merger was completed in June 2018, and the properties previously owned by Unibail-Rodamco adopted the Westfield brand. By 2019, 10 flagship properties had undergone rebranding under the Westfield name.

In 2020, the company faced significant governance challenges, with the resignation of supervisory-board chairman Colin Dyer following the rejection of a proposed capital raise. Leon Bressler, former Unibail CEO, replaced Dyer as chairman. In 2021, Jean-Marie Tritant was appointed CEO and chairman of the management board.

Portfolio

Unibail-Rodamco-Westfield (URW) holds a diversified property portfolio valued at approximately €49.7 billion as of December 31, 2024. The portfolio is primarily retail-focused, with 87% of its assets in retail properties, 6% in office buildings, 5% in convention and exhibition venues, and 2% in services. URW owns 67 shopping centres across 11 countries, with 39 of these centres branded as Westfield. These centres attract over 900 million visits annually, providing significant retail and consumer engagement across key markets.

In the office real estate sector, URW owns high-quality office buildings such as the Ariane Tower and Majunga Tower in Paris, situated in prime locations. These properties contribute to the company’s diverse presence in commercial office spaces. Additionally, URW owns and operates 10 convention and exhibition venues in Paris, enhancing its footprint in the events and exhibitions sector.

The company has an ongoing development pipeline valued at €1.9 billion, which focuses primarily on mixed-use assets. This pipeline reflects URW’s strategic approach to expanding its portfolio with integrated and sustainable developments. The company also made notable acquisitions in 2024, such as acquiring the remaining 50% stakes in the Westfield Montgomery and CH Ursynów shopping centres, further solidifying its presence in key markets.

URW has also been strategically managing its portfolio through divestments, optimising its asset base for better returns. Its portfolio is spread across Europe and North America, with flagship centres in major cities including Paris, London, Los Angeles, and Warsaw. The company’s commitment to high-quality assets and sustainable development is central to its long-term value creation in the commercial real estate industry.

Leadership Team

Jean-Marie Tritant | Chief Executive Officer
Fabrice Mouchel | Chief Financial Officer
Sylvain Montcouquiol | Chief Resources and Sustainability Officer
Vincent Rouget | Chief Strategy and Investment Officer
Anne-Sophie Sancerre | Chief Customer and Retail Officer

References

Unibail-Rodamco-Westfield | Unibail-Rodamco-Westfield SE
Unibail-Rodamco-Westfield | Wikipedia
Unibail-Rodamco-Westfield SE – Company Profile and News | Bloomberg
Unibail-Rodamco-Westfield 2025 Company Profile | PitchBook
Unibail-Rodamco-Westfield SE | World Benchmarking Alliance
Unibail-Rodamco-Westfield SE Credit Ratings | Fitch Ratings
Unibail-Rodamco-Westfield SE (URW.PA ) | Yahoo Finance
Unibail-Rodamco-Westfield SE Company Profile – Overview | Global Data
Unibail-Rodamco-Westfield SE – CreditFlow | Finsight
Unibail-Rodamco-Westfield SE (URW) Stock Price Today | The Wall Street Journal
Unibail-Rodamco-Westfield SE | Reuters
UNIRF: Unibail-Rodamco-Westfield SE – Stock Price | CNBC

7 Place du Chancelier Adenauer, 75016 Paris, France

Website https://www.urw.com/

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