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

Forestar Group

Market Cap: US$1.2b

Operates as a residential lot development company in the United States.

Longfor Group Holdings

Market Cap: US$73.2b

An investment holding company, engages in the property development, commercial investment, asset management, property management, and smart construction businesses in the People’s Republic of China.

LSL Property Services

Market Cap: US$249.3m

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.

Lendlease Group

Market Cap: US$3.7b

Operates as an integrated real estate and investment company in Australia, Asia, Europe, and the Americas.

China Overseas Property Holdings

Market Cap: US$16.7b

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

Cushman & Wakefield

Market Cap: US$3.6b

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

Guangdong Land Holdings

Market Cap: US$436.4m

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

China SCE Group Holdings

Market Cap: US$561.7m

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

Central China Management

Market Cap: US$1.3b

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

MIRARTH HOLDINGSInc

Market Cap: US$66.5b

Engages in the real estate business in Japan.

Country Garden Services Holdings

Market Cap: US$20.6b

An investment holding company, provides property management services to property owners, residents, and property developers in Mainland China.

Megaworld

Market Cap: US$63.4b

Engages in the development, sale, and leasing of real estate properties in the Philippines.

Shun Tak Holdings

Market Cap: US$2.3b

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

Altisource Asset Management

Market Cap: US$945.2k

A privately owned investment manager based in Christiansted, Virgin Islands.

SOHO China

Market Cap: US$2.9b

Engages in real estate development, property leasing, and related management activities in the People’s Republic of China.

China Resources Land

Market Cap: US$217.5b

An investment holding company, engages in the investment, development, management, and sale of properties in the People’s Republic of China.

Shimao Group Holdings

Market Cap: US$2.4b

An investment holding company, engages in the property development and investment business in the People’s Republic of China.

Road King Infrastructure

Market Cap: US$524.5m

An investment holding company, invests in, develops, operates, and manages property projects and toll roads in Mainland China and Hong Kong.

New England Realty Associates Limited Partnership

Market Cap: US$244.5m

Engages in acquiring, developing, holding for investment, operating, and selling of real estate properties in the United States.

LogProstyle

Market Cap: US$23.9m

Operates as a real estate developer and management company in Japan.

Jinmao Property Services

Market Cap: US$2.5b

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

UOL Group

Market Cap: US$7.4b

UOL Group Limited (UOL) is a leading Singapore-listed property and hospitality group with total assets of about $23 billion.

Hang Lung Group

Market Cap: US$22.1b

An investment holding company, operates as a property developer in Hong Kong and Mainland China.

Longfor Group Holdings

Market Cap: US$73.2b

An investment holding company, engages in the property development, commercial investment, asset management, property management, and smart construction businesses in the People’s Republic of China.

RMR Group

Market Cap: US$502.7m

Through its subsidiary, The RMR Group LLC, provides real estate asset management services in the United States.

LandBridge

Market Cap: US$5.6b

Owns and manages land and resources to support and enhance oil and natural gas development in the United States.

Jones Lang LaSalle

Market Cap: US$14.2b

Operates as a commercial real estate and investment management company.

RE/MAX Holdings

Market Cap: US$250.8m

Operates as a franchisor of real estate brokerage services in the United States, Canada, and internationally.

Singapore Land Group

Market Cap: US$2.5b

An investment holding company, engages in the development of properties for investment and trading in Singapore and internationally.

KATITAS

Market Cap: US$140.7b

KATITAS CO., Ltd. purchases, remodels, renovates, and sells used homes to individuals and families in Japan.

Poly Property Group

Market Cap: US$8.3b

An investment holding company, engages in the property investment, development, and management business in Hong Kong, the People’s Republic of China, and internationally.

Hulic

Market Cap: US$1.3t

Engages in the holding, leasing, brokerage, and sale of real estate properties in Japan.

Forge Innovation Development

Market Cap: US$503.9k

Focuses on commercial and residential land development business in the United States.

AMREP

Market Cap: US$113.4m

Through its subsidiaries, engages in the real estate business in the United States.

Logistic Properties of the Americas

Market Cap: US$100.9m

Develops, own, manages, and operates industrial and logistics real estate properties in Costa Rica, Colombia, and Peru.

Times China Holdings

Market Cap: US$725.1m

An investment holding company, operates as a property developer in the People’s Republic of China.