U.K. Real Estate Management and Development Potentially Undervalued Companies

VIB Vermögen

Market Cap: €297.5m

Engages in the development, acquisition, and management of commercial real estate properties in Germany.

Aedas Homes

Market Cap: €918.1m

Engages in the development of residential properties in Spain.

Foxtons Group

Market Cap: UK£164.1m

An estate agency, provides services to the residential property market in the United Kingdom.

Foxtons Group

Market Cap: UK£164.1m

An estate agency, provides services to the residential property market in the United Kingdom.

Citycon Oyj

Market Cap: €587.8m

A real estate investment company, owns and develops mixed-use centers in Finland, Norway, Sweden, Denmark, and Estonia.

LAMDA Development

Market Cap: €1.3b

Lamda Development S.A., together with its subsidiaries, engages in the investment in, development, and project management activities in the commercial real estate market in Greece and internationally.

Branicks Group

Market Cap: €168.0m

Branicks Group AG is Germany’s leading listed specialist for commercial real estate, with more than 25 years of experience in the property market and access to a broad network of investors.

Aroundtown

Market Cap: €3.5b

Operates as a real estate company in Germany, the Netherlands, the United Kingdom, Belgium, and internationally.

UBM Development

Market Cap: €158.8m

Engages in the development, management, and sale of real estate properties in Germany, Austria, Poland, and internationally.

VIB Vermögen

Market Cap: €229.4m

Engages in the development, acquisition, and management of commercial real estate properties in Germany.

Fotex Holding

Market Cap: €109.5m

Through its subsidiaries, engages in the property management, manufacturing, retailing, and other business activities in Luxembourg, the Netherlands, and Hungary.

Atenor

Market Cap: €180.9m

Operates as a real estate development company in Belgium, Luxembourg, the Netherlands, France, Germany, Portugal, Poland, Hungary, Britain, and Romania.

Savills

Market Cap: UK£1.3b

Engages in the provision of real estate services in the United Kingdom, Continental Europe, the Asia Pacific, Africa, North America, and the Middle East.

CTP

Market Cap: €8.7b

Develops, owns, operates, and leases commercial real estate properties in Western Europe and Central and Eastern Europe.

Aroundtown

Market Cap: €3.4b

Operates as a real estate company in Germany, the Netherlands, the United Kingdom, Belgium, and internationally.

Zentra Group

Market Cap: UK£1.1m

Operates as a property development and management company in the United Kingdom.

Savills

Market Cap: UK£1.3b

Engages in the provision of real estate services in the United Kingdom, Continental Europe, the Asia Pacific, Africa, North America, and the Middle East.

Instone Real Estate Group

Market Cap: €360.9m

Develops residential real estate properties in Germany.

BASSAC Société anonyme

Market Cap: €833.9m

Operates as a real estate development company primarily in France, Belgium, Germany, and Spain.

Harworth Group

Market Cap: UK£544.5m

Operates as a land and property regeneration company in the North of England and the Midlands.

Panther Securities

Market Cap: UK£49.5m

Panther Securities PLC ("the Company" or "the Group") is a property investment company quoted on the AIM market (AIM) since 2013.

LSL Property Services

Market Cap: UK£278.4m

Engages in the provision of business-to-business services to mortgage intermediaries and estate agent franchisees, and valuation services to lenders in the United Kingdom.

Citycon Oyj

Market Cap: €587.8m

A real estate investment company, owns and develops mixed-use centers in Finland, Norway, Sweden, Denmark, and Estonia.

Branicks Group

Market Cap: €125.1m

Branicks Group AG (formerly DIC Asset AG) is a leading German listed specialist for office and logistics real estate as well as renewable assets with over 25 years of experience in the real estate market and access to a broad investor network.

NP3 Fastigheter

Market Cap: SEK 15.2b

A real estate company, engages in commercial investment property business in Sweden.

LSL Property Services

Market Cap: UK£278.4m

Engages in the provision of business-to-business services to mortgage intermediaries and estate agent franchisees, and valuation services to lenders in the United Kingdom.

Asia Strategic Holdings

Market Cap: US$12.8m

Develops and operates consumer business in Singapore, Vietnam, and Myanmar.

Grainger

Market Cap: UK£1.4b

Designs, builds, develops, owns and operates rental homes in the United Kingdom.

Harworth Group

Market Cap: UK£544.5m

Operates as a land and property regeneration company in the North of England and the Midlands.

Varia US Properties

Market Cap: CHF 212.6m

A real estate investment company, acquires, holds, and sells properties in the United States.

Samhällsbyggnadsbolaget i Norden

Market Cap: SEK 9.9b

Owns, develops, and manages residential and social infrastructure properties in Sweden, Norway, Finland, and Denmark.

UBM Development

Market Cap: €154.7m

Engages in the development, management, and sale of real estate properties in Germany, Austria, Poland, and internationally.

Renta Corporación Real Estate

Market Cap: €24.3m

A real estate company, engages in the acquisition, rehabilitation, and sale of real estate properties in Barcelona and Madrid, Spain.

Eastnine

Market Cap: SEK 4.5b

A real estate investment firm.

Immobel

Market Cap: €264.9m

Engages in the real estate development business in Belgium, France, Luxembourg, Germany, Poland, Spain, and the United Kingdom.

NEPI Rockcastle

Market Cap: €97.8b

NEPI Rockcastle N.V. (“the Company”, “NEPI Rockcastle”, “the Group”) is a public limited company domiciled in the Netherlands, having its registered office at Strawinskylaan 563, WTC Zuidas, Tower Ten, 5th Floor, 1077 XX Amsterdam, with registration number at the Dutch Chamber of Commerce 87488329.