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    URW   FR0013326246


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06/02/2021 | 11:11am EDT

(Los Angeles, CA) In partnership with Los Angeles World Airports (LAWA), Unibail-Rodamco-Westfield (URW) is taking a new approach to leasing opportunities at LAX Terminal 3 and marking a significant step in the aviation industry's comeback from the COVID-19 pandemic.

Interested small, local business and certified Airport Concessions Disadvantaged Business Enterprises (ACDBE) operators are encouraged to compete for leasing opportunities for 10 new dining and retail destinations in Terminal 3, which is currently under renovation as part of LAX's Terminal 2 and 3 Modernization Project. This is the first of two bidding opportunities in the renovated terminals.

'With LAWA's $14.5 billion modernization touching every terminal at LAX, we are creating new opportunities for local, small and minority-owned businesses,' said Justin Erbacci, Chief Executive Officer, LAWA. 'With our partners at Unibail-Rodamco-Westfield, we are further removing barriers for these companies and encouraging disadvantaged operators to bid on airport contracts and help deliver our gold-standard airport experiences.'

URW has evolved its Competitive Evaluation Process (CEP) to broaden the number of potential bidders to present one of the most inclusive offers in the marketplace. Eight of the nine bid packages are for single units only, allowing firms to propose concepts for any individual space or for a group of spaces. This change makes it easier for smaller businesses to bid on a single unit instead of multiple units at one time.

LAX and URW also are encouraging firms without previous experience doing business in the airport to attend 'LAX Terminal 3 Leasing Opportunities,' a virtual information session that will provide information about how to pursue these opportunities. The session is scheduled for 1 p.m. (Pacific Time) on Tuesday, June 8.

'With this leasing opportunity, we want to lower the barriers to entry and bring new, diverse businesses into one of the most exciting new terminals in the country,' said Chris Adkins, URW's General Manager at LAX. 'This is a great opportunity for local small businesses to break into the airports industry as we work together to build back better than before.'

LAX's Terminal 2 and 3 Modernization Project is a $1.86 billion project that will modernize and upgrade the terminals and connect them the Tom Bradley International Terminal. The renovated terminals will feature 14 dining and retail destinations occupying nearly 15,000 square feet, nearly 3,000 more square feet when compared to before construction began. The terminals are projected to re-open in mid-2023, 18 months ahead of the project's original schedule.

The deadline for proposals is Tuesday, July 27. Learn more and register to attend the informational session at www.urwairports.com/leasing.

About Los Angeles International Airport (LAX)

LAX, the third-busiest airport in the world and second busiest in the United States in 2019, is in the midst of a $14.5-billion capital improvement program that will touch on all nine passenger terminals and build new facilities, including an Automated People Mover (APM) train, Consolidated Rent-A-Car (ConRAC) facility and a 12- to 15-gate Bradley West Gates addition to the Tom Bradley International Terminal.

In 2019, LAX served nearly 88.1 million passengers and offered an average of 700 daily nonstop flights to 113 destinations in the U.S. and 1,200 weekly nonstop flights to 91 markets in 46 countries on 72 commercial airlines.

LAX generates 620,600 jobs in Southern California, with labor income of $37.3 billion and economic output (business revenues) of more than $126.6 billion, according to an economic study based on 2014 operations. This activity added $6.2 billion to local and state revenues and $8.7 billion in federal tax revenues. The study also reported that LAX's ongoing capital improvement program creates an additional 121,640 annual jobs with labor income of $7.6 billion and economic output of $20.3 billion; $966 million in state and local taxes; and $1.6 billion in federal tax revenues.

LAX is part of a system of two Southern California airports - along with Van Nuys general aviation - that are owned and operated by Los Angeles World Airports (LAWA), a proprietary department of the City of Los Angeles that receives no funding from the City's general fund.

LAWA is leading the aviation industry in sustainability practices, with initiatives related to water management, energy (electricity) management, air quality, recycling and natural resources management. In 2019, LAX received Level III ACI Airport Carbon Accreditation from Airport Councils International-Europe.

LAWA is also a leader in inclusivity, operating eight programs that provide opportunities for business enterprises including local, small, minority-owned, veteran-owned and disadvantaged firms, and working together with community partners to offer the HireLAX Apprenticeship Readiness Program, which targets local workers to make them ready for rewarding careers in the construction trades, and the Build LAX Academy, designed to prepare small contracting businesses for success when working on projects at LAX.

LAX was named a top-10 U.S. airport by SKYTRAX in 2018, and was honored as the 'Most Innovative Airport for Passenger Experience' in 2019 by the American Association of Airport Executives. LAX is the second-most popular airport in the world to appear on Instagram, according to wego.com. Other recent honors have included selection as the No. 9 Best Airport (Wall Street Journal); No. 7 Best On-Time Performance for a Mega-Hub Airport (OAG); one of 'The World's Best Airports for Business Travelers' (GlobeHunters); Public-Private Partnership of the Year (P3 Bulletin); Urth Caffe, Best Airport Coffee Concession of the Year (Global FAB Awards); Innovation of the Year, Consolidated Rent-A-Car Facility (ARTBA); Best Project, United Airlines Terminal 7 and 8 Redevelopment Program (Engineering News Record California); North American Public-Private Partnership Deal of the Year (IJ Global); and Innovative Transportation Solution of the Year, Automated People Mover (WTS LA).

About Unibail-Rodamco-Westfield

Unibail-Rodamco-Westfield is the premier global developer and operator of Flagship Destinations, with a portfolio valued at EUR58.3 Bn as of September 30, 2020, of which 86% in retail, 7% in offices, 5% in convention & exhibition venues and 2% in services. Currently, the Group owns and operates 87 shopping centres, including 55 Flagships in the most dynamic cities in Europe and the United States. Present on two continents and in 12 countries, Unibail-Rodamco-Westfield provides a unique platform for retailers and brand events and offers an exceptional and constantly renewed experience for customers.

With the support of its 3,400 professionals and an unparalleled track-record and know-how, Unibail-RodamcoWestfield is ideally positioned to generate superior value and develop world-class projects.

Unibail-Rodamco-Westfield distinguishes itself by its Better Places 2030 agenda, that sets its ambition to create better places that respect the highest environmental standards and contribute to better cities.

Unibail-Rodamco-Westfield stapled shares are listed on Euronext Amsterdam and Euronext Paris (Euronext ticker: URW), with a secondary listing in Australia through Chess Depositary Interests. The Group benefits from an BBB+ rating from Standard & Poor's and from a Baa1 rating from Moody's.

For more information, please visit www.urw.com

Visit our Media Library at https://mediacentre.urw.com

Follow the Group updates on Twitter @urw_group, Linkedin @Unibail-Rodamco-Westfield and Instagram @urw_group

As a covered entity under Title II of the Americans with Disabilities Act, the City of Los Angeles does not discriminate on the basis of disability and, upon request, will provide reasonable accommodation to ensure equal access to its programs, services, and activities. Alternative formats in large print, braille, audio, and other forms (if possible) will be provided upon request.

LAX Public Relations

(424) 646-5430


(312) 259-0445

(C) 2021 Electronic News Publishing, source ENP Newswire

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Unibail-Rodamco-Westfield SE Technical Analysis Chart | URW | FR0013326246 | MarketScreener
Technical analysis trends UNIBAIL-RODAMCO-WESTFIELD SE
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Mean consensus UNDERPERFORM
Number of Analysts 18
Last Close Price 71,23 €
Average target price 69,11 €
Spread / Average Target -2,97%
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Jean-Marie Tritant Group Chief Executive & Operating Officer
Fabrice Mouchel Group Chief Financial Officer
Jean-Luc Neez Director-Finance
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