Blacktown. A long way in 50 years

From a delicatessen in Blacktown in the 1950s, Frank Lowy has gone on to create the largest shopping-centre operation in the world. At the first annual general meeting of Westfield Development Corporation, in September 1961, it had a balance sheet of 380,000 pounds. Today, the Westfield Group has net assets of $25.8 billion. Frank Lowy, 79, will chair the 50th AGM on May 27.