PORT AUTHORITY, THE NEW TERMINAL ONE AND UNIBAIL-RODAMCO-WESTFIELD AIRPORTS LAUNCH COMMERCIAL PROGRAM FOR A NEW WORLD-CLASS GLOBAL TERMINAL AT JOHN F. KENNEDY INTERNATIONAL AIRPORT

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Part of the Port Authority's $19 Billion Transformation of JFK International Airport

NEW YORK, March 18, 2024 /PRNewswire/ -- The Port Authority of New York and New Jersey (PANYNJ), The New Terminal One (NTO) and Unibail-Rodamco-Westfield (URW) Airports announced today the launch of the commercial program for the privately funded $9.5 billion all-international terminal scheduled to open in 2026 as part of the $19 billion transformation of John F. Kennedy International Airport (JFK) in New York. The commercial vision will converge beloved New York City favorites, global powerhouse brands, engaging guest experiences and thoughtful amenities under one spectacular roof.

Commercial Vision
The iconic new experience will wow customers with a curated mix of luxury brands, premium apparel, New York's signature global cuisine and experiential categories. The collection is expected to include several first-to-airport market brands as well as a focus on unique products, food, and beverage sourced from local makers, purveyors, and farmers.

The state-of-the-art terminal design incorporates a playful range of emotions one feels while in New York — from the luxury excitement and vibrancy of the Met Gala to the charm of the city's neighborhood pockets and the lush nature of New York's parks. Passengers will get a taste of Queens through both cuisine and aesthetics, with all five boroughs represented throughout the terminal.

When fully complete, the New Terminal One will be the largest terminal at JFK, with 23 gates and more than 300,000 square feet of retail, dining and lounge space over a total footprint of 2.4 million square feet.

"From the outset of our $19 billion transformation of JFK, our goal has been to build best-in-class facilities that offer a passenger experience on par with or better than what travelers find at the world's great airports," said Port Authority Executive Director Rick Cotton. "At the heart of that effort is the ambitious commercial program envisioned for the New Terminal One, which will bring together global brands and iconic local businesses that will combine with our public art, branding and architecture to create a sense of place unique to New York."

"Visitors from around the world will be energized from the moment they enter the New Terminal One at JFK thanks to the locally inspired shops and restaurants that will reflect the diverse tastes and styles from across our region," said Port Authority Chairman Kevin O'Toole. "Just as we have done at Newark's Terminal A, we are drawing on the talents of local businesses, artisans and restauranteurs to create memorable and award-winning new airports."

"We are excited to partner with The New Terminal One and the Port Authority of New York and New Jersey to deliver a world-class commercial program for the world's best international terminal," said Dany Nasr, CEO of Unibail-Rodamco-Westfield Airports. "The most sought-after brands see The New Terminal One as an unparalleled opportunity to capitalize on a premier audience, create global exposure, and express their brands within a showstopping environment. Together, we will set the benchmark for future airport developments in North America and beyond."

"The launch of the commercial program for the New Terminal One is an important milestone as we advance towards our scheduled opening in 2026," said Dr. Gerrard P. Bushell, president and CEO of The New Terminal One. "We are proud to partner with URW Airports to launch a world-class retail experience featuring global brands and local New York businesses, reflecting the dazzling array of offerings that our great city is known for. Our food and beverage selection will showcase a rich diversity of cuisines and flavors inspired by the tapestry of cultures that make up New York City, while driving real economic opportunities in our community for generations to come."

Community Outreach
With the launch of the commercial program, URW is going to market to promote concessions business opportunities — with a focus on diverse entry points for local-, women- and minority-owned businesses, from product placement to retail and dining. The community is invited to attend the inaugural virtual information sessions:

Introduction to Airport Concessions Opportunities (virtual) - Tuesday, April 16, 2024, from 1 to 2 p.m. ET
Airport Certified Disadvantaged Business Enterprise (ACDBE) Concessions JV Equity Partnership Opportunities (virtual) - Tuesday, April 23, 2024, from 1 to 2 p.m. ET

Visit www.aNewJFK.com to sign up to attend an event, register for business opportunities and stay up-to-date on news and events about the NTO commercial program.

Global Duty-Free RFP Issued
As an important project milestone, URW Airports issued its first prime operator Request for Proposals (RFP) and is seeking an innovative and bold global duty-free partner to achieve its vision and connect with the vibrant local maker and vendor community to feature local products. The tender is offered as a single package covering five outlets in the project's initial phase, with additional space provided in future phases. As part of the RFP, the operator must include at least 30 percent airport concessions disadvantaged business enterprise (ACDBE) participation and incorporate a minimum of 5 percent of local business enterprise (LBE) product in their shop floor product mix, complementary to the overall merchandising plan.

URW Airports is committed to lowering barriers to entry and providing technical assistance and support to ensure The New Terminal One reflects the rich diversity of its communities, creates strong career paths for local students and workers, and fosters impactful partnerships with local organizations and programs including the Port Authority's Institute of Concessions (IOC). The team is creating a dynamic offer of right-sized opportunities to provide flexible entry points for ACDBEs and LBEs that balance customer preferences and commercial objectives while growing the capacity of local businesses to help them reach their ultimate success.

Transforming JFK Into a World-Class Global Gateway
In January 2017, the JFK Vision Plan was announced to transform John F. Kennedy International Airport into the world-class airport that New Yorkers deserve. The vision plan provides a strategic framework for the Port Authority and its partners to completely redevelop, modify and expand existing facilities and infrastructure. The $9.5 billion development of a state-of-the-art New Terminal One that will anchor the airport's south side broke ground in September 2022. The $1.5 billion expansion of Terminal 4, led by Delta Air Lines and JFK International Air Terminal, is now under construction. The new Terminal 6 builds on the momentum of the other three major components of the airport's transformation already underway. Additionally, the $400 million modernization and expansion of Terminal 8, led by American Airlines, which operates the terminal, and British Airways was substantially completed in November 2022.

All the privately financed terminal projects combined with the Port Authority's roadway, parking and infrastructure projects represent a $19 billion transformation of JFK International Airport and an extraordinary series of public-private partnerships. The Port Authority capital investment of $3.9 billion is leveraging private investment at a rate of nearly four to one when taking into account the full private investment of more than $15 bn that has been committed to the four projects comprising the full JFK redevelopment program.

For more information on the redevelopment of Terminal 6, please visit the JFK redevelopment website.

About John F. Kennedy International Airport's The New Terminal One
The New Terminal One is being built on sites now occupied by JFK's Terminal 1, the recently closed Terminal 2, and the former Terminal 3, where it will anchor the international airport's south side. Construction is taking place in phases. The first phase, including the new arrivals and departures halls and first set of 14 new gates, is expected to open in 2026.

At completion, which is anticipated in 2030, the New Terminal One will be 2.4 million square feet, making it the largest terminal at JFK and nearly the same size as LaGuardia Airport's two new terminals combined. NTO will be a state-of-the-art international-only terminal with 23 gates. Sustainably designed and future-focused, the terminal will feature expansive, naturally lit public spaces, cutting-edge technology and an array of amenities, all designed to enhance the customer experience and compete with some of the highest-rated airport terminals in the world.

The New Terminal One consortium of labor, operating, and financial partners is led by Ferrovial, JLC Infrastructure, Ullico and Carlyle. NTO is being built by union labor and the consortium is committed to local inclusion and labor participation, focusing on diversity and capacity-building opportunities, including ambitious goals for creating opportunities for MWBEs and service-disabled veteran-owned businesses (SDVOB). More information on the NTO project is available here.

About Unibail-Rodamco-Westfield
Unibail-Rodamco-Westfield (URW) is an owner, developer and operator of sustainable, high-quality real estate assets in the most dynamic cities in Europe and the United States. The Group operates 72 shopping centers in 12 countries, including 38 which carry the iconic Westfield brand. These centers attract over 900 million visits annually and provide a unique platform for retailers and brands to connect with consumers. URW also has a portfolio of high-quality offices, 10 convention and exhibition venues in Paris, and a $3.25 billion development pipeline of mainly mixed-use assets. Currently, its $56 billion portfolio is 87 percent in retail, 6 percent in offices, 5 percent in convention and exhibition venues, and 2 percent in services (as of Dec. 31, 2023). URW is a committed partner to major cities on urban regeneration projects, through both mixed-use development and the retrofitting of buildings to industry-leading sustainability standards. These commitments are enhanced by the Group's Better Places plan, which strives to make a positive environmental, social and economic impact on the cities and communities where URW operates. URW's stapled shares are listed on Euronext Paris (Ticker: URW), with a secondary listing in Australia through Chess Depositary Interests. The Group benefits from a BBB+ rating from Standard & Poor's and from a Baa2 rating from Moody's.

About Unibail-Rodamco-Westfield Airports
A division of Unibail-Rodamco-Westfield (URW), for more than 25 years, URW Airports has leveraged its expertise as a premier retail developer and operator to deliver seamless journeys by creating uplifting retail travel experiences that put people at the heart of everything. Partnering with airports and airlines, across some of the world's busiest airports, including Los Angeles International (LAX), Chicago O'Hare International (ORD), and John F. Kennedy International (JFK), URW Airports has a proven track record of delivering elevated travel experiences that drive commercial revenue above U.S. benchmarks. Learn more at www.urwairports.com.

The Port Authority of New York and New Jersey is a bi-state agency that builds, operates, and maintains many of the most important transportation and trade infrastructure assets in the country. For over a century, the agency's network of major airports; critical bridges, tunnels and bus terminals; a commuter rail line; and the busiest seaport on the East Coast has been among the most vital in the country – transporting hundreds of millions of people and moving essential goods into and out of the region. The Port Authority also owns and manages the 16-acre World Trade Center campus, which today welcomes tens of thousands of office workers and millions of annual visitors. The agency's historic $37 billion 10-year capital plan includes unprecedented transformation of the region's three major airports – LaGuardia, Newark Liberty and JFK – as well as an array of other new and upgraded assets, including the $2 billion renovation of the 90-year-old George Washington Bridge. The Port Authority's annual budget of $8 billion includes no tax revenue from either the states of New York or New Jersey or from the City of New York. The agency raises the necessary funds for the improvement, construction or acquisition of its facilities primarily on its own credit. For more information, visit www.panynj.gov or check out the Now Arriving blog.