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FOUNDER STORIES / FRANK LOWY

The shopkeeper became the landlord.

Frank Lowy and John Saunders moved from a Sydney deli to shopping centres. The enduring business was owning, improving and managing the places where other people traded.

By Ben · Fintok6 min read7 sources ↓
Westfield London, White City, 2009 (hook backdrop)Blacktown railway station with a steam train, 1955Inside the Oculus, two days after Westfield World Trade Center opened (18 August 2016)
Places from the story · Photo credits ↓
THE FIRST CENTRE1959

Blacktown, Sydney

THE PUBLIC LISTING1960

A source of capital beyond the founders

THE INTERNATIONAL DEALUS$24.7bn

Announced enterprise value, including debt

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  • The first centre became a repeatable project.
  • There was a second business alongside the rent.
  • The format travelled, with new capital and new risks.
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7 sources · Research reviewed October 25, 2026