In this article, we will be covering the global real estate market and the 21 largest real estate companies in the world. If you wish to skip our detailed analysis, you can move directly to the 5 Largest Real Estate Companies in the World.
Global Real Estate Market: An Overview
As reported by Savills, global real estate including residential and commercial real estate as well as agricultural land was valued at $379.7 trillion in 2022. This global real estate value decreased from $390.5 trillion in 2021 although it is 18.7% higher than the pre-pandemic period. The slow growth has been attributed to high inflation and rising interest rates.
By property sector, the residential sector which was worth $287.6 trillion in 2022, accounts for 76% of the total global real estate value. Commercial real estate ranks second and comprises 13% of total real estate value, as evident from its valuation of $50.8 trillion. Simultaneously, agricultural land was valued at $41.3 trillion and accounts for 11% of the total value.
Current Market Dynamics and Future Projections
On March 12, PwC reported that property buyers and sellers are reconciling with higher interest rates. Although investors have been reluctant amidst high interest rates in the past, 2024 will offer them more clarity. At the same time, investors continue to opt for safer real estate markets. Prime examples of this are of the safer Singapore and South Korea which were strong in terms of investments in 2023. The total returns in the US and UK real estate investment trust markets also turned positive at the end of 2023. While China has been the victim of a property crisis with developers facing massive losses and fighting debt, it continues to be a major real estate market in Asia and had $37.5 billion of deals completed in 2023. Some of the top cities for real estate investment in 2024 are London, Tokyo, Paris, Sydney, Dallas, Melbourne, and Milan.
Furthermore, a key market trend relates to the significance of sustainability which has been increasingly growing and is reflected in the global real estate sector since companies are willing to spend more for constructing high-quality office properties.
Key Players Dominating the Market
Some of the largest real estate companies in the world include Welltower Inc. (NYSE:WELL), Keller Williams Realty, and Prologis, Inc. (NYSE:PLD). Let’s discuss some updates from these firms.
The Real Estate Investment Trust Welltower Inc. (NYSE:WELL) owns interests in properties in high-growth markets in the US, Canada, and the United Kingdom. On February 13, the company reported strong financial results for the fiscal fourth quarter of 2023. Welltower Inc. (NYSE:WELL) reported earnings per share of $0.96, beating EPS estimates by $0.02. The company’s revenue for the quarter amounted to $1.75 billion, up 15.23% year-over-year and ahead of revenue consensus by $12.34 million. Here are some comments from Welltower Inc.’s (NYSE:WELL) Q4 2023 earnings call:
“We had a great year, a record-setting year in terms of capital deployment and we meaningfully strengthened our balance sheet and liquidity profile. Just as importantly, perhaps, is the groundwork we laid to sustain this level of performance and continue to deliver outsized growth not only in 2024 but also well into the future. This includes the considerable progress John and his team have made on the build-out of our operating platform, which we continue to believe will transform the industry. On top of that, as we have discussed in recent quarters, we have executed a number of operator transitions across all our geographies, as well as converted a handful of properties from triple-net to RIDEA. All should bear fruit later this year and in 2025.
We finished the year strong with significant momentum to set us up for another year of solid performance in 2024. In terms of our Senior Housing Operating portfolio, I was particularly encouraged by the occupancy growth in fourth quarter, which is seasonally not the strongest period. The portfolio saw 110 basis points of sequential occupancy gains, which translate into 330 basis points year-over-year occupancy growth, and the 330 basis points year-over-year occupancy growth is by far the highest level we have ever achieved in the fourth quarter of any year in our recorded history. Just as compelling is that looking at the intra-quarter trends, year-over-year occupancy growth strengthened each month, which is unusual given the aforementioned seasonality of the business.”
Keller Williams Realty serves as the fastest-growing real estate franchise in the world. On March 27, the company reported a major step in its aggressive global expansion. Keller Williams has decided to expand to the Bahamas real estate landscape. In the second quarter of 2024, Keller Williams Bahamas will be opening its first market center. This development marks the company’s tenth master franchise in the Caribbean. Other Caribbean franchises have been operating in Jamaica, Puerto Rico, Bermuda, Turks and Caicos, the Dominican Republic, Aruba, Sint Maarten, Bonaire, and Curaçao.
Prologis, Inc. (NYSE:PLD) is a global leader in logistics real estate. The firm tends to focus on high-barrier, high-growth markets. The company also engages in leasing logistics facilities to 6,700 customers who are spread across the categories of business-to-business and retail or online fulfillment. As of December 2023, Prologis, Inc. (NYSE:PLD) owned or had investments in properties and development projects totaling approximately 1.2 billion square feet in 19 countries.
Now that we have taken a look at global real estate, let’s move to the 21 largest real estate companies in the world.
21 Largest Real Estate Companies in the World
Our Methodology:
In order to compile a list of the 21 largest real estate companies in the world, we utilized industry reports as well as stock screeners. Initially, we used the Yahoo Finance screener and Finviz to shortlist the largest public real estate companies across the world. Market capitalization was used to rank these companies and was sourced from Yahoo Finance, as of April 15. We further expanded our research to incorporate private real estate companies operating worldwide by reviewing multiple rankings and industry reports. We have used the estimated valuation from major media reports based on the company’s latest funding round, the annual revenue from the latest fiscal year, or the number of company employees as a metric to rank private companies. Subject to the availability of data, one of the above metrics has been used to include private companies in our list. Finally, we ranked the 21 largest real estate companies in the world in ascending order of their market capitalizations or the aforementioned alternative metrics for private companies.
21 Largest Real Estate Companies in the World
21. Invitation Homes Inc. (NYSE:INVH)
Market Capitalization: $20.78 Billion
Invitation Homes Inc. (NYSE:INVH) is a premier single-family home leasing and management company based in the United States. The company has a focus on the Western US, the Southeast, Texas, and Florida. Numerous options to lease an updated home in a neighborhood are offered by the firm thereby allowing more than 80,000 people to live in their desired home without having to worry about a mortgage. As of April 15, Invitation Homes Inc. (NYSE:INVH) is worth $20.78 billion and ranks as one of the largest real estate companies in the world.
20. Alexandria Real Estate Equities, Inc. (NYSE:ARE)
Market Capitalization: $21.32 Billion
Alexandria Real Estate Equities, Inc. (NYSE:ARE) is a real estate investment trust that has been serving as the pioneer of the life science real estate niche since its inception in 1994. The company is an owner, operator, and developer of collaborative life science mega campuses. Additionally, Alexandria Real Estate Equities, Inc. (NYSE:ARE) provides strategic capital to transformative life science companies. The company is valued at $21.32 billion, as of April 15.
19. SBA Communications Corporation (NASDAQ:SBAC)
Market Capitalization: $21.82 Billion
SBA Communications Corporation (NASDAQ:SBAC) ranks as one of the top real estate investment trusts in the United States based on its market capitalization. The company is an independent owner and operator of wireless communications infrastructure. This infrastructure includes towers, buildings, rooftops, distributed antenna systems, and small cells. The presence of SBA Communications Corporation (NASDAQ:SBAC) spans the Americas, Africa, and Asia. As of April 15, the company has a market capitalization of $21.82 billion.
18. Equity Residential (NYSE:EQR)
Market Capitalization: $23.41 Billion
Equity Residential (NYSE:EQR) is a publicly traded real estate investment trust that invests in apartments. The company’s properties are located in numerous US markets including Manhattan, Boston, Washington DC, San Francisco, Los Angeles, and Seattle. As of April 15, Equity Residential (NYSE:EQR) is worth $23.41 billion on the open market and ranks among the largest real estate companies in the world.
17. Mitsubishi Estate Co., Ltd. (TYO:8802)
Market Capitalization: $25.94 Billion
Mitsubishi Estate Co., Ltd. (TYO:8802) serves as one of the largest real estate developers in Japan. The company’s business activities include the development and sale of real estate for investment purposes in Japan and overseas, the development and sale of land for housing, research, and other facility use, and the development and leasing of office buildings, retail, hotels, logistics, and other facilities. As of April 15, Mitsubishi Estate Co., Ltd. (TYO:8802) has a market capitalization of $25.94 billion.
16. AvalonBay Communities, Inc. (NYSE:AVB)
Market Capitalization: $26.13 Billion
AvalonBay Communities, Inc. (NYSE:AVB) is a real estate investment trust that is engaged in developing, redeveloping, acquiring, and managing multifamily communities in the United States. The company has a market valuation of $26.13 billion, as of April 15. As of 2023, AvalonBay Communities, Inc. (NYSE:AVB) has a direct or indirect ownership interest in 299 apartment communities in 12 US states and the District of Columbia.
15. DLF Limited (NSE:DLF)
Market Capitalization: $26.37 Billion
DLF Limited (NSE:DLF) is the largest publicly listed real estate company in India. The company initially started off with the creation of 22 urban colonies in the city of Delhi. DLF Limited (NSE:DLF) now has residential, commercial, and retail properties in 15 states. Furthermore, the firm is currently worth $26.37 billion and ranks as one of the largest real estate companies in the world.
14. CBRE Group, Inc. (NYSE:CBRE)
Market Capitalization: $27.33 Billion
CBRE Group, Inc. (NYSE:CBRE) serves as one of the largest commercial property developers in the United States. The company serves clients in over 100 countries around the world and helps invest in real estate, design and build transformational spaces, and manage properties and portfolios. As of April 15, CBRE Group, Inc. (NYSE:CBRE) is worth $27.33 billion on the open market.
13. VICI Properties Inc. (NYSE:VICI)
Market Capitalization: $29.15 Billion
The 21 largest real estate companies in the world include VICI Properties Inc. (NYSE:VICI) which is an experiential real estate investment trust. The company owns 54 gaming properties and 39 other experiential properties across the United States and Canada. Under long-term, triple-net lease agreements, the company’s properties are occupied by industry-leading gaming, leisure, and hospitality operators. Currently, VICI Properties Inc. (NYSE:VICI) has a market capitalization of $29.15 billion.
12. Extra Space Storage, Inc. (NYSE:EXR)
Market Capitalization: $29.77 Billion
Extra Space Storage, Inc. (NYSE:EXR) is a self-managed real estate investment trust based in Salt Lake City, Utah. The company serves as one of the most dominant operators of self-storage properties in the United States and owns or operates more than 3,500 self-storage properties. As of April 15, Extra Space Storage, Inc. (NYSE:EXR) is worth $29.77 billion and ranks among the largest real estate companies worldwide.
11. Mitsui Fudosan Co., Ltd. (TYO:8801)
Market Capitalization: $30.62 Billion
Mitsui Fudosan Co., Ltd. (TYO:8801) is a major Japanese real estate developer that offers solutions and services in business areas such as office buildings, commercial facilities, housing, hotels, and resorts. This real estate division of Mitsui Company separated from its parent company in 1941. Additionally, the company engages in neighborhood creation. Mitsui Fudosan Co., Ltd. (TYO:8801) is one of the largest real estate companies in the world.
10. CoStar Group, Inc. (NASDAQ:CSGP)
Market Capitalization: $36.9 Billion
As of April 15, CoStar Group, Inc. (NASDAQ:CSGP) has a market capitalization of $36.9 billion and ranks as another large real estate firm. Digitizing global real estate, the company is a provider of commercial and residential real estate information, analytics, and online marketplaces. Some of the brands of CoStar Group, Inc. (NASDAQ:CSGP) include Apartments.com, Ten-X, LoopNet, CoStar, and Homes.com.
9. Crown Castle Inc . (NYSE:CCI)
Market Capitalization: $42.02 Billion
Crown Castle Inc. (NYSE:CCI) is a real estate investment trust and has 30 years of experience in owning and operating network assets. The company operates as the largest provider of shared communications infrastructure in the United States. It aimed to provide the US wireless carriers with the real estate required for running their networks after officially becoming a REIT in January 2014. As of April 15, Crown Castle Inc. (NYSE:CCI) is worth $42.02 billion.
8. Digital Realty Trust, Inc. (NYSE:DLR)
Market Capitalization: $44.5 Billion
Digital Realty Trust, Inc. (NYSE:DLR) ranks among the largest real estate companies globally. The company operates as a real estate investment trust that owns, operates, and invests in carrier-neutral data centers across the world. It offers data center, colocation, and interconnection solutions and has a presence on six continents in more than 25 countries and greater than 50 metro areas. Digital Realty Trust, Inc. (NYSE:DLR) has a market valuation of $44.5 billion, as of April 15.
7. Realty Income Corporation (NYSE:O)
Market Capitalization: $44.8 Billion
Realty Income Corporation (NYSE:O) is a real estate investment trust that invests in diversified commercial real estate. The company’s portfolio includes more than 15,450 properties in all US states and in seven European countries. Realty Income Corporation (NYSE:O) has a primary focus on freestanding retail and industrial properties. The company’s market capitalization is $44.8 billion, as of April 15 which ranks it as one of the largest real estate companies in the world.
6. Simon Property Group, Inc. (NYSE:SPG)
Market Capitalization: $47.17 Billion
Simon Property Group, Inc. (NYSE:SPG) engages in the ownership of premier shopping, dining, entertainment and mixed-use destinations. The company is a real estate investment trust and has properties in North America, Europe, and Asia. Its portfolio includes more than 250 iconic global properties such as The Shops at Crystals, Woodbury Common Premium Outlets, and Sawgrass Mills. Furthermore, Simon Property Group, Inc. (NYSE:SPG) is worth $47.17 billion, as of April 15.
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Disclosure: None. 21 Largest Real Estate Companies in the World is originally published on Insider Monkey.