Global Real Estate Management and Development Potentially Undervalued Companies

Powerlong Commercial Management Holdings

Market Cap: HK$2.7b

Provides commercial operational and residential property management services in the People’s Republic of China.

KWG Living Group Holdings

Market Cap: HK$1.5b

An investment holding company, provides various residential and non-residential property management services in the People’s Republic of China.

Gemdale

Market Cap: CN¥21.5b

Engages in the real estate development business in China and internationally.

China Overseas Property Holdings

Market Cap: US$17.3b

An investment holding company, provides property management services in Hong Kong, Macau, and Mainland China.

S-Enjoy Service Group

Market Cap: €2.4b

An investment holding company, provides property management and related value-added services for property developers in the People’s Republic of China.

China Overseas Land & Investment

Market Cap: HK$156.7b

An investment holding company, engages in the property development and investment, and other operations in the People’s Republic of China and the United Kingdom.

China Vanke

Market Cap: HK$79.9b

Engages in the development and sale of properties in the Mainland China, Hong Kong, and internationally.

China Vanke

Market Cap: €79.9b

Engages in the development and sale of properties in the Mainland China, Hong Kong, and internationally.

Daito Trust ConstructionLtd

Market Cap: US$1.0t

Designs, constructs, and rents apartments and condominiums in Japan.

VGP

Market Cap: €2.1b

Develops, owns, and manages logistics and semi-industrial real estate, and ancillary offices.

VGP

Market Cap: €2.1b

Develops, owns, and manages logistics and semi-industrial real estate, and ancillary offices.

Hang Lung Properties

Market Cap: US$29.9b

An investment holding company, engages in the property investment, development, and management activities in Hong Kong and Mainland China.

Ciputra Development

Market Cap: €17.1t

Develops and sells real estate properties in Indonesia.

UBM Development

Market Cap: €147.9m

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

Cushman & Wakefield

Market Cap: US$2.0b

Provides commercial real estate services under the Cushman & Wakefield brand in the Americas, Europe, Middle East, Africa, and Asia Pacific.

Compass

Market Cap: €3.8b

Provides real estate brokerage services in the United States.

NEPI Rockcastle

Market Cap: €101.2b

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.

Shenzhen Investment

Market Cap: €7.0b

An investment holding company, invests in, develops, and manages real estate properties in Mainland China.

Hang Lung Properties

Market Cap: €29.9b

An investment holding company, engages in the property investment, development, and management activities in Hong Kong and Mainland China.

Midland Holdings

Market Cap: €709.7m

An investment holding company, provides property agency services in Hong Kong, Macau, and Mainland China.

Helbor Empreendimentos

Market Cap: R$284.0m

Engages in the real estate development business in Brazil.

VIB Vermögen

Market Cap: €259.8m

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

Real Brokerage

Market Cap: US$936.2m

Operates as a real estate technology company in the United States and Canada.

Tokyu Fudosan Holdings

Market Cap: JP¥710.6b

Engages in the real estate business in Japan and internationally.

Beijing Capital Development

Market Cap: CN¥6.4b

Operates as a real estate development company in China.

China Merchants Property Operation & Service

Market Cap: CN¥13.2b

China Merchants Property Operation & Service Co., Ltd.

China Vanke

Market Cap: HK$79.9b

Engages in the development and sale of properties in the Mainland China, Hong Kong, and internationally.

Sobha

Market Cap: ₹126.6b

Engages in the construction, development, sale, management, and operation of residential and commercial real estate under the Sobha brand primarily in India.

NexLiving Communities

Market Cap: CA$55.9m

Owns and manages multi-unit residential real estate properties in Canada.

Ganglong China Property Group

Market Cap: HK$559.5m

An investment holding company, engages in the development of real estate projects in the People’s Republic of China.

Shun Tak Holdings

Market Cap: US$1.9b

An investment holding company, engages in the property, transportation, hospitality, and investment businesses in Hong Kong, Macau, the People's Republic of China, Singapore, and internationally.

Central China Management

Market Cap: US$1.3b

An investment holding company, provides project management services in the People’s Republic of China.

China Jinmao Holdings Group

Market Cap: US$14.7b

Develops properties in Mainland China.

MIRARTH HOLDINGSInc

Market Cap: US$66.5b

Engages in the real estate business in Japan.

Quality Houses

Market Cap: ฿19.9b

Engages in the property development business in Thailand.

China SCE Group Holdings

Market Cap: US$561.7m

Operates as an investment holding company, engages in the development, investment, and management of properties in the People’s Republic of China.