Euromoney Global Real Estate Awards 2023: The world’s best retail developer – Unibail-Radamco-Westfield
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Awards

Euromoney Global Real Estate Awards 2023: The world’s best retail developer – Unibail-Radamco-Westfield

Unibail-Rodamco-Westfield (URW) operates 74 shopping centres in 12 countries, 39 of which carry the Westfield brand. Its centres attract more than 900 million visitors annually and provide a platform for a range of retailers and brands.

In October 2022, the developer announced the launch of Westfield Rise, an in-house media, brand-experience and data-partnership agency, which serves as a one-stop-shop for brands and media buyers to create innovative and measurable campaigns across URW’s platform of retail media assets at its European shopping malls.

In the first half of 2023, it reported 1.6% growth in earnings before interest, taxes, depreciation and amortization – back to pre-Covid levels – versus the same period in 2022. Shopping-centre net rental income increased to €1.06 billion, up 8.5%; tenant sales were up by 9% and footfall by 7% compared with the equivalent period in 2022.

Commenting on the results, chief executive Jean-Marie Tritant says: “URW delivered very solid financial results in H1 2023 that demonstrate the strength of our assets and the quality of our operations and teams.

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