CAC 40 Component
|Founded||2018(acquisition of Westfield Corporation by Unibail-Rodamco)|
|Products||Shopping centers, convention and exhibition venues, office buildings|
|€1.318 billion (2012)|
|Total assets||€39.3 billion (June 30, 2016)|
|Total equity||€17.83 billion (September 30, 2013)|
Number of employees
|3700 (average, 2018)|
Unibail-Rodamco-Westfield SE is a European company, headquartered in Paris, that specializes in commercial property investments. It is the largest commercial real estate company in Europe. Unibail-Rodamco was created in June 2007 through the merger of Unibail (created in France in 1968) and Rodamco Europe (created in 1999 in the Netherlands). Unibail-Rodamco-Westfield manages three types of assets: shopping centers, convention centers and office properties. The Company counts 1500 employees on its payroll and is a component of the Euro Stoxx 50 stock market index.
On 12 December 2017 the boards of Westfield and Unibail-Rodamco unanimously agreed to buy Westfield Corporation, an Australian shopping centre multinational, in a $US24.7 billion ($A32.8 billion) deal. The takeover was completed in June 2018 and the company's trading name became Unibail-Rodamco-Westfield.
Unibail was founded as a finance leasing unit in 1968 by the company then known as Worms & Cie. In 1991, the company started to focus on the property investment sector, and to phase out involvement in lease financing. Unibail built up a portfolio of property with close to 30 shopping centres across France - including the Forum des Halles and the arcade within CNIT - and substantial office properties in Paris and La Défense - including the Tour Ariane, and the Paris Expo group of convention centres.
Rodamco Europe was formed in 1999 when Rodamco, a property investment fund set up by the Dutch asset management group Robeco in 1979, was broken up into various independent listed companies covering different parts of the world. Rodamco Europe subsequently collected a portfolio primarily consisting of shopping centres and other retail spaces across 14 European countries, along with some office property in France and the Netherlands, acquiring smaller European rivals in the process.
On April 10, 2007, Rodamco Europe announced an agreement to conduct a merger of equals with Unibail to create the largest publicly traded property company in Europe. The merger was confirmed on June 21, 2007, after Unibail announced the acquisition of 80% of Rodamco's shares, making its offer for the remainder unconditional. The merged entity took effect as a société anonyme under the new name Unibail-Rodamco on June 25, 2007.
On June 1, 2011, Unibail-Rodamco hired former FNAC CEO Christophe Cuvillier as the new COO. In collaboration with CEO and Chairman of the Board Guillaume Poitrinal, he has led the company to 5 years of growth in spite of the tough economic conditions.
In December 2017, Unibail took over Westfield Corporation, which operates 35 shopping centres in the US and the UK, for a reported price of US$24.8bn. The Australian shopping centres branded as Westfield and held by Scentre, were not acquired by Unibail.
To conceive and design its buildings, Unibail-Rodamco-Westfield works with high-end architectural firms like Thomas Mayne of Morphosis firm, Herzog & de Meuron, RIADH group (De La Hoz, Cottrell, Michelangeli), the firm Architecture Farshid Moussavi, Cuno & Jean Brullmann Crochon-Luc, Jean-Paul Viguier, Epstein & Glaiman / Recevki Architecture, Araldo Cossutta & Ponte, Arte-Charpentier ...
Real estate assets
Unibail-Rodamco-Westfield owns 102 shopping centers in 13 European countries with an over 1.2 billion visits a year. 55 of those get more than 6 million visits per year.
In March 2012, Unibail-Rodamco-Westfield introduced the 4-star rating for its shopping centers. This ranking sets quality standards at all stages of the client's visit in a shopping center. SGS is responsible for auditing and validating the label in each case. 571 requirements are necessary to obtain the 4-star rating. The staff has to be trained for outstanding customer service and retailers have to commit to a strict quality code.
Most prestigious centers:
- Lyon Confluence (Lyon, France)
- Carrousel du Louvre (Paris, France)
- Carré Sénart (Lieusaint, France)
- Parly 2 (Le Chesnay, France)
- Les Quatre Temps (La Défense, France)
- So Ouest (Levallois, France)
- Piazza Center Hoofddorp—De Vier Meren (Hoofddorp, Netherlands)
- Aéroville (Paris – Charles de Gaulle, France)
- Mall of Scandinavia (Stockholm, Sweden)
- Nacka Forum (Stockholm, Sweden)
- La Maquinista (Barcelona, Spain)
- Parquesur (Madrid, Spain)
- Galeria Mokotów (Warsaw, Poland)
- Arkadia (Warsaw, Poland)
- Wroclavia (Wrocław, Poland)
- Donauzentrum (Vienna, Austria)
- Stadshart Amstelveen (Amstelveen, Netherlands)
- Shopping City Süd (Vienna, Austria)
- Aupark (Bratislava, Slovakia)
- Centrum Chodov (Prague, Czech Republic)
- Fisketorvet (Copenhagen, Denmark)
Unibail-Rodamco-Westfield owns at parity with the Chamber of Commerce and Industry of Paris (CCIP) the companies Viparis and Comexposium. Viparis manages convention centers for conferences, exhibitions and corporate events in and around Paris. Comexposium is specialized in organizing events.
Unibail-Rodamco-Westfield owns many congress centers in France. Through Viparis, Unibail-Rodamco-Westfield owns a total of 300,000 m2 wide, spread over 10 sites in Paris.
Unibail-Rodamco-Westfield invests and develops modern and efficient buildings of over 10,000 m² of GLA in Paris, the central business district of Paris (Capital 8) and in La Défense (Tour Ariane).
Those office properties include:
- Christophe Cuvillier : Chairman of the Management Board and Chief Executive Officer
- Jean-Marie Tritant : Chief Operating Officer
- Armelle Carminati-Rabasse : Chief Resources Officer
- Jaap L. Tonckens : Chief Financial Officer
- Olivier Bossard : Chief Development Officer
- Fabrice Mouchel : Deputy Chief Financial Officer
- APG Asset Management 9,2%
- Amundi AM 4,2%
- Northern Cross 3,6%
- BlackRock 3,2%
- State Street Global Advisors 3,09%
- Other 76,2%
Unibail-Rodamco-Westfield is listed in several indexes, including:
- FTSE4Good (since 2008)
- Dow Jones Sustainability Index (World since 2008 and Europe since 2010)
- Advanced Sustainability Performance Eurozone Index (since 2010)
- Ethibel Sustainability Index (since 2011)
- ECPI Index (since 2011)
- STOXX® Global ESG Leaders Index (since 2011)
- Standard Ethics French Index (since 2015)
Unibail-Rodamco-Westfield is rated A by Standard & Poor’s and Fitch Ratings.
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- Frankfurt Stock Exchange
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- Joseph Ayoub, Tour Triangle, Whitezine, 7 June 2012
- Towers, buildings and consultations in La Défense, Nxtbook.fr
- Lyon Confluence / Jean-Paul Viguier et Associes, Arch Daily, 8 June 2012
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- Sustainability, awards and ratings, Unibail-rodamco.com