The 84-year-old Football Federation Australia (FFA) president was treated for a subdural haematoma, a blood clot on the brain, the company said in a statement about its chairman.
Lowy, who is also chairman of Scentre Group, was operated on in Europe, where he began to feel unwell while on holidays.
"He is now out of hospital and he is expected to make a full recovery," Westfield said in the statement, adding that Lowy would return to Australia following a short convalescence.
Lowy tumbled several feet off the stage at Melbourne's Rectangular Stadium in May, just before he was about to present the A-League trophy to Melbourne Victory's captain.
The raucous crowd of 30,000 fell into a stunned silence as the Czechoslovakia-born billionaire lay motionless on the pitch before being helped to his feet and resuming the presentation. Later that day, the FFA said Lowy had suffered no major injuries.
(Reporting By Jane Wardell; Editing by Michael Perry)
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