When EG first began compiling a list of the world’s largest real estate owning companies almost a decade ago, the top 100 collectively held some $2.9tn of assets. This year’s list sees that number swell to more than $8.7tn – equivalent to the GDP of Japan and Germany combined.
Today, US-based companies in the Global 100, which is based on publicly available data on assets under management, hold a greater value of property than the entire listing did back in 2014. In this year’s ranking some 34 US companies hold $3.1tn of assets.
The country’s next closest rival in the rankings is China, holding close to $2.3tn – albeit across a much smaller number of companies (16). Together the two countries own almost two-thirds (64%) of the total value of the Global 100, with $5.4tn of real estate between them.
Europe took third spot, owning $1.4tn of the $8.7tn Global 100 universe.
The US and China continue to lead the top 10 of the Global 100, with only France’s AXA sneaking in to break the duopoly. China’s Evergrande, despite being one of the most heavily indebted real estate businesses in the world, remains in the top two with its inability to sell down its portfolio enabling it to hold its ranking.
The massive increase in value of assets under management in the Global 100 2023 will come as something as a fillip for the sector, which was hit hard over the final quarter of 2022 by large declines in valuations and a pause on investment activities.
According to EG’s figures, the value of the Global 100 universe increased by a whopping 199% between 2014 (the first index) and today’s ranking. Even looking back to 2020’s index – compiled before the onset of the coronavirus pandemic – the total sum of assets under management in our 2023 Global 100 is 42% higher, with around $2.5tn of value added.
Only a handful of the global sovereign wealth funds made it into this year’s ranking – with a floor of $30bn keeping many out. However, fresh data from Preqin shows that SWFs are still allocating huge sums of capital to real estate, with the top 20 (see below) seeking to invest some $375.4bn into the sector.
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