John Gandel AC, an Australian businessman, property developer and philanthropist, made his fortune in the development of commercial real estate as well as shopping centres located in Melbourne, Victoria.
- Gandel owns half of the southern hemisphere’s largest shopping mall, Chadstone, with more than 500 stores in eastern Melbourne.
- He also has a big stake in listed property trust Vicinity Centres, which owns the other half of Chadstone, plus other malls and outlets.
- He first got rich by expanding his Polish immigrant parents’ clothing chain for women, Sussan, now owned by his niece, Naomi Milgrom.
- But he made most of his wealth from the shopping malls he bought from Myer department stores for $37 million in the 1980s.
- Gandel says the key to his success was the deregulation of shopping hours and shopping becoming a leisure activity.