Source of Wealth:Real Estate
Full Name:Ghermezian Brothers
Occupation:Real Estate Developers
About Ghermezian Brothers
The Ghermezian brothers are Canadian real estate developers of Iranian-Jewish origin and they have an estimated net worth of $2 billion. Eskandar, Nader, Raphael and Bahman were born in Iran. The family migrated to Canada in 1964.
The Ghermezian brothers earned their estimated net worth of $2 billion with Triple Five Corporation, the family’s real estate development and construction company which came from the family rug business. The multinational conglomerate and diverse development and finance corporation has business interests in shopping centers, tourism projects, office buildings, municipal planning and development, revitalization programs and their implementation, urban entertainment destinations, recreation and amusement parks, hospitality projects, casino, residential developments, commercial and industrial real estate, auto and industrial manufacturing, natural resource development in oil, gas and minerals, technology, research, venture capital, banking and finance.
Triple Five Corporation has developed several of the world’s shopping malls. In 2011, it has acquired the troubled Xanadu Meadowlands project in New Jersey and renamed it to American Dream Meadowlands. It has also announced a major expansion and renovation of the mall that is under construction. It is now expected to open in the fall of 2013.
The Ghermezian brothers also run the family’s holdings which include the Mall of America in Bloomington, Minnesota, and the West Edmonton Mall in Edmonton, Alberta.