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.

RMR Group

Market Cap: US$505.1m

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

Longfor Group Holdings

Market Cap: US$71.9b

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.

Anywhere Real Estate

Market Cap: US$1.3b

Through its subsidiaries, provides residential real estate services in the United States and internationally.

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.

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.

China Overseas Property Holdings

Market Cap: US$16.5b

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

CTP

Market Cap: US$8.5b

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

Lendlease Group

Market Cap: US$3.7b

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

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.

Shun Tak Holdings

Market Cap: US$2.2b

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.

LogProstyle

Market Cap: US$27.9m

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

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.

New England Realty Associates Limited Partnership

Market Cap: US$244.7m

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

China Resources Land

Market Cap: US$207.4b

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

Altisource Asset Management

Market Cap: US$945.2k

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

Daiwa House Industry

Market Cap: US$3.3t

Engages in the construction work business in Japan, the United States, and internationally.

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.

Megaworld

Market Cap: US$63.4b

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

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.

Jinmao Property Services

Market Cap: US$2.5b

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

RE/MAX Holdings

Market Cap: US$245.6m

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

Jones Lang LaSalle

Market Cap: US$14.1b

A commercial real estate and investment management company, engages in the buying, building, occupying, managing, and investing in commercial, industrial, hotel, residential, and retail properties in the Americas, Europe, the Middle East, Africa, and the Asia Pacific.

Hang Lung Group

Market Cap: US$20.4b

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

UOL Group

Market Cap: US$6.9b

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

Longfor Group Holdings

Market Cap: US$71.9b

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.

Relo Group

Market Cap: US$249.5b

Engages in the provision of property management services in Japan.

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.

AMREP

Market Cap: US$110.4m

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

Logistic Properties of the Americas

Market Cap: US$97.4m

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

Poly Property Group

Market Cap: US$7.5b

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