Who Is Eskandar Ghermezian
Eskandar Ghermezian is a Canadian billionaire of Iranian origin and a central figure in the Ghermezian family business dynasty. He is widely recognized as a co-founder and key leader of the Triple Five Group, a private conglomerate that develops large-scale shopping malls, entertainment complexes, and real estate projects across North America and beyond. His work helped shape some of the world's largest enclosed retail and entertainment destinations. Eskandar Ghermezian's influence in commercial real estate and mega-mall development is well documented by major business outlets Forbes.
The Ghermezian family, including Eskandar, built their initial wealth through rug trading and later pivoted into large-scale real estate development. Eskandar Ghermezian played a critical role in the family's expansion into North American markets, particularly in Canada and the United States. His strategic decisions helped Triple Five Group secure some of the most ambitious retail and entertainment projects in modern commercial real estate history.
Major Projects and Business Empire
The most prominent project associated with Eskandar Ghermezian is the West Edmonton Mall in Alberta, Canada, which was the largest shopping mall in North America for decades. Under Triple Five Group, the mall has been expanded and redeveloped to include extensive entertainment attractions, indoor amusement parks, and water parks. Eskandar Ghermezian's leadership helped transform the mall into a diversified entertainment and retail hub rather than a traditional shopping center.
Beyond West Edmonton Mall, Eskandar Ghermezian and Triple Five Group have been involved in major redevelopment projects in the United States. The group acquired and began redeveloping the former American Dream mall site in New Jersey, aiming to create one of the largest retail and entertainment complexes in the country. These projects reflect the family's continued focus on mega-scale mixed-use developments that combine retail, hospitality, and entertainment under one roof.
Net Worth, Rankings, and Current Status
Eskandar Ghermezian's net worth is derived primarily from his stake in Triple Five Group and the value of the family's extensive real estate portfolio. The Ghermezian family consistently appears on global billionaire rankings, with wealth tied to the appreciation of their commercial properties and ongoing mega-project developments. Eskandar Ghermezian's personal fortune is estimated in the billions, reflecting decades of successful real estate and business expansion.
The Ghermezian family maintains a low public profile despite their immense wealth and business scale. Eskandar Ghermezian's current activities focus on managing existing properties and advancing new large-scale developments in North America. The family's business strategy continues to emphasize long-term value creation through massive enclosed retail and entertainment complexes, a model they pioneered with West Edmonton Mall and are now replicating in other major markets.