We recall that they delayed the opening of the Mall of America in 1992 until after the fast day of Tisha B'Av in accord with the Jewish custom of not inaugurating a new business venture during the nine days before the fast.
The brothers have agreed now to rescue the beleaguered Xanadu development in New Jersey.
The Bergen Record reports that state senator Loretta Weinberg calls on company taking over Xanadu project to provide details on deal.
The web site Salam Worldwide reports about the family:
In their adopted home of Canada, the Ghermezian brothers -- Eskandar, Nader, Raphael and Bahman -- are figures shrouded in mystery. A fiercely private Orthodox Jewish family, they refuse to grant interviews, or to be photographed. The Encyclopedia Britannica gives few biographical facts about their father Jacob and founder of the Ghermezian real estate dynasty, other than he was born in Azerbaijan in 1902, immigrated to Canada in the late 1950s where he started out by developing a chain of Persian rug stores, and died in the year 2000. All of those who have dealt with the family describe them as hard-as-nails political and legal operators. These four Iranian natives have created one of Canada's biggest and most spectacular real estate empires through Triple Five Corp, their large asset-based financial conglomerate that consists of nearly 400 companies with offices across Canada, U.S., England, Japan, Taiwan and the Middle East.
The Ghermezian brothers boast, among other things, of having built the world’s largest shopping mall, West Edmonton Mall. Now a staggering 5.3 million square feet, the megamall features more than 800 stores, 25 sit-down restaurants, a casino, an amusement park, an indoor wave pool, a dolphin lagoon, and 26 movie screens in two theater complexes.
Since the mid-1980s, the Ghermezians have had plans to conquer the American real estate market as well. The family has done very well in Las Vegas, having become principals in at least 34 companies registered in the state. The Ghermezians also built the huge “Mall of America” in Minnesota. Since its opening, Mall of America has grown to more than 525 stores and now employs about 12,000 people. Inside the building, there are 49 restaurants, a cinema with 14 screens, and 8 night clubs. The mall has an economic impact on Minnesota of nearly $1.5 billion per year. It has become a must-see tourist attraction, with more than 270 million visitors both local and foreign since its opening. At the moment, Mall of America attracts more visitors annually than Disney World, Graceland, and the Grand Canyon combined, which makes it the country's most visited destination for U.S. travelers.