The world’s top 100 real estate companies own USD$3.6 trillion of property, according to the latest Estates Gazette ranking.
The list, revealed on Estates Gazette’s new dedicated global property investment website
www.globalrealestateinsight.com, shows that only the US, China, Japan and Germany have larger GDPs than the collective value of EG’s Top 100 global property owners.
The total value this year increased by more than USD$400 billion.
Canada-based Brookfield Asset Management tops the rankings for the third year in a row with almost $130 billion of assets. US giant Blackstone takes second place with $94 billion and TIAA-CREF third with assets under management of $89 billion.
US firms were the largest contingent in the top 100 with a combined asset value of $1.3 trillion. China held the next biggest slice of the ranking with a total value of $621.5 billion.
Together North American and Asian real estate firms hold $2.8 trillion of assets, representing 88% of the total 100.
The UK appears in the list 10 times with a total combined asset value of $219.9 billion.
To make it on to the list this year, firms had to own property valued at more than $12.4 billion.
Samantha McClary, head of content at Estates Gazette, said: “Our Global 100 list, which is based on real assets rather than property securities and debt, shows how big a business the international real estate market is."“The list, now in its third year, continues to grow with new firms appearing every year. The appearance of more property owners from new locations shows just how global a playground the real estate industry is. Four Japan-based businesses made it on to the 2016 list, a 100% increase on last year."