The real estate industry is not just about homes and office buildings—it’s a massive global economic force valued at over $654.3 trillion as of 2025, making it the largest asset class in the world. [1]
The scale is staggering. Publicly listed real estate investment trusts (REITs) alone manage more than $4 trillion in global assets, with top players like Prologis and American Tower having total assets worth $60 billion+ each.
Meanwhile, property development giants such as Country Garden (China) and Dalian Wanda have delivered millions of square meters of residential and commercial space, dominating high-growth markets across Asia.
Below, I’ve mentioned some of the world’s largest real estate companies, highlighting their asset portfolios, revenues, geographic reach, and the influence they wield in shaping global development trends. Many of them have also embraced proptech and eco-friendly smart buildings, keeping up with growing trends like hybrid workspaces and sustainable design.
Did you know?There are more than 1.5 million Realtors in the US, all members of the National Association of Realtors. Florida has the highest number, with over 225,500 Realtors, followed by California with around 204,600, and Texas with about 150,100. [2]
Table of Contents
17. Digital Realty
Founded: 2004Country: United States
Revenue: $5.55 billion+
Competitive Edge: Proactive approach to renewable energy and sustainability initiatives
Digital Reality operates as a REIT, focusing on the ownership and development of data centers. It provides colocation services, interconnection solutions, and cloud infrastructure support, catering to the growing demand for digital transformation and data-intensive applications.
The company operates over 300 data centers across more than 25 countries, serving a wide array of industries, including cloud providers, financial services, healthcare, and manufacturing. This diversity helps reduce industry-specific risks and allows the company to benefit from growth across multiple sectors.
In 2022, its renewable energy efforts helped avoid 1.8 million metric tons of CO2 emissions. The company has secured 1.4 gigawatts of renewable energy capacity and actively works toward green building certifications to meet both environmental goals and customer expectations.
In 2025, Digital Realty entered the Indonesian market through a joint venture to tap into the region’s rising demand for digital infrastructure. [3]
16. Public Storage
Founded: 1972Country: United States
Revenue: $4.69 billion+
Competitive Edge: Strong brand recognition
Public Storage is the undisputed giant of the self-storage industry that transformed what was once a fragmented and mom-and-pop-dominated industry into a scalable, institutionally recognized asset class.
It has expanded methodically over five decades, becoming the largest self-storage company in the world by number of facilities and rentable square footage. Today, it operates over 3,300 facilities across the United States (totaling 245 million+ rentable square feet), serving approximately two million customers. [4]
Unlike many in the space, Public Storage is vertically integrated — handling everything from property management to customer acquisition and data analytics in-house, giving it an edge in both cost efficiency and service delivery. Plus, it maintains a conservative balance sheet with low leverage compared to its peers, which enables it to seize acquisition and development opportunities during market downturns.
For instance, in 2023, Public Storage acquired Simply Self Storage from Blackstone Real Estate Income Trust for $2.2 billion. Throughout 2024, it acquired 22 self-storage facilities across 11 states, adding 1.7 million net rentable square feet for $267.5 million.
The company has also shown interest in international markets. In 2025, Public Storage, alongside Ki Corp, made a $1.2 billion takeover bid for Abacus Storage King, a prominent self-storage operator in Australia and New Zealand. [5]
15. Realty Income
Country: United States
Revenue: $5.27 billion+
Competitive Edge: Commitment to monthly dividend payments
Realty Income has carved a niche in the real estate sector by focusing on free-standing, single-tenant commercial properties under long-term net lease agreements. Over the decades, it has expanded its portfolio significantly, both domestically and internationally.
Today, it owns more than 15,450 properties totaling over 335.3 million leasable square feet. Its portfolio spans the United States, the United Kingdom, and six other European countries. In 2024, the company acquired Spirit Realty Capital for $9.3 billion, expanding its portfolio and enhancing its position in the net lease sector. [6]
Their largest tenants include Dollar General (3.4%), Walgreens (3.3%), and Dollar Tree/Family Dollar (3.1%), reflecting a strategic emphasis on recession-resistant industries.
One of Realty Income’s standout features is its trademarked title, “The Monthly Dividend Company,” earned through its commitment to paying monthly dividends. As of April 2025, it has declared 658 consecutive monthly dividends, highlighting its dedication to providing consistent shareholder returns. [7]
14. Emaar Properties
Founded: 1997Country: United Arab Emirates
Revenue: $9.66 billion+
Competitive Edge: Flagship assets like Burj Khalifa and The Dubai Mall
Emaar Properties is one of the world’s most influential and financially robust real estate developers. Established in 1997, it quickly rose to prominence during Dubai’s rapid transformation into a global business and tourism hub.
Emaar is not just known for shaping Dubai’s skyline—especially with the iconic Burj Khalifa, the tallest building in the world—but also plays a major role in developing urban landscapes across Asia, the Middle East, North Africa, and other regions. [8]
The company has delivered over 74,000 residential units globally, and its pipeline includes another 42,000+ units under development. Its operations span more than 15 countries, including high-growth markets like Saudi Arabia, India, Egypt, and Turkey. [9]
Its flagship project, Downtown Dubai, is a 500-acre megadevelopment that includes iconic assets like The Dubai Mall (the second-largest mall in the world), Dubai Opera, and multiple luxury hotels under the Address and Vida brands.
13. Simon Property Group
Founded: 1993Country: United States
Revenue: $5.96 billion+
Competitive Edge: Properties are situated in prime locations
Simon Property Group is the largest owner of shopping malls in the United States. Its assets encompass regional malls, premium outlets, and lifestyle centers, attracting a diverse mix of tenants and consumers.
The company owns or has an interest in 325+ retail real estate properties globally. This includes properties in North America, Europe, and Asia, with a total of 242 million square feet. In the US, Simon owns or partially owns 194 income-producing properties, including premier shopping destinations like The Shops at Crystals in Las Vegas and Woodbury Common Premium Outlets in New York. [10]
It is also investing (close to $800 million) in mixed-use developments across key markets, including Boston and Seattle. These projects aim to integrate retail, residential, and hospitality components, enhancing property value and consumer experience. [11]
Furthermore, Simon has partnered with BP to install over 900 high-speed electric vehicle chargers at 75 locations across the US, supporting the growing demand for sustainable transportation options.
12. VICI Properties
Country: United States
Revenue: $3.84 billion+
Competitive Edge: Most tenants are large, publicly traded firms
VICI Properties is one of the largest experiential REITs in the United States, specializing in gaming, hospitality, and entertainment destinations. Founded in 2017 as a spin-off from Caesars Entertainment during its bankruptcy reorganization, VICI quickly emerged as a key player in the real estate industry, offering investors exposure to high-yield, long-term-leased, and mission-critical assets.
It owns an impressive portfolio of hospitality-oriented real estate, including many of the most well-known properties on the Las Vegas Strip, such as Caesars Palace, The Mirage, The Venetian Resort, and MGM Grand.
Since its IPO, VICI has aggressively scaled its portfolio through strategic partnerships and acquisitions. For example, in 2022, it acquired MGM Growth Properties for $17.2 billion, adding 13 properties and increasing its annual revenue by $1 billion. [12]
Looking ahead, VICI plans to develop its 33 acres of undeveloped land adjacent to the Las Vegas Strip, further enhancing its presence in this key market.
11. American Tower
Founded: 1995Country: United States
Revenue: $10.12 billion+
Competitive Edge: Operates on a highly recurring lease model
American Tower is known for its vast infrastructure network supporting the backbone of global wireless communications. It has become a dominant force in the telecom real estate sector by owning and operating tens of thousands of wireless communication towers, rooftop sites, and, more recently, data centers across over 25 countries on six continents.
More specifically, American Tower’s portfolio comprises nearly 149,000 communications sites across 25 countries, including over 42,000 properties in the USA and Canada and nearly 106,000 properties internationally. [13]
The company operates a diversified business model centered around leasing antenna sites on multitenant towers to various wireless service providers. This colocation or “neutral hosting” model allows multiple tenants to co-locate on a single tower, optimizing the use of infrastructure and reducing costs for tenants. It also offers services related to site application, zoning, permitting, construction management, and structural analysis.
Revenue is primarily generated through long-term leases with tenants, providing a stable and predictable income stream. Its key clients include AT&T, Verizon, T-Mobile, and Telefonica, among others.
10. Equinix
Country: United States
Revenue: $8.74 billion+
Competitive Edge: Unparalleled reach and connectivity options
Headquartered in Redwood City, California, Equinix specializes in data centers and internet connectivity. It operates over 260 data centers across 33 countries on five continents, serving more than 10,000 customers, including over 310 Fortune 500 companies.
In 2015, Equinix converted to a real estate investment trust (REIT), aligning its corporate structure with its core business of owning and operating data centers. This move allowed the company to reinvest in its infrastructure and expand its global footprint.
Today, the company generates revenue through recurring monthly fees for colocation space and interconnection services, as well as usage-based fees for digital infrastructure products. Driven by demand for AI and cloud services, Equinix expanded its xScale data center portfolio to over $8 billion. [14]
Equinix has significantly increased its focus on renewable energy, signing 15 new power purchase agreements (PPAs) in 2023, surpassing 1 GW of renewable energy under contract. It aims to achieve climate neutrality by 2030.
9. KE Holdings
Founded: 2018Country: China
Revenue: $11.57 billion+
Competitive Edge: Provides a one-stop solution for real estate transactions
KE Holdings is China’s largest integrated online and offline platform for housing transactions and services. It was established in 2018 as a holding company for the well-known real estate brokerage brand Lianjia.
It operates extensively across China, facilitating transactions in existing and new home sales, rentals, home renovation, and real estate financial solutions.
Its flagship platform, Beike, connects real estate agents, developers, and consumers. By leveraging AI, big data, and virtual technologies, Beike improves the efficiency and transparency of property transactions. The platform’s success is underpinned by its extensive network of over 116,000 employees and partnerships with several third-party agencies, including the franchise brand Deyou. [15]
In 2024, KE Holdings delivered strong financial results, with revenue growing by 11.6% year-over-year. However, gross profit saw only a modest increase of 0.79% during the same period.
8. Mitsui Fudosan
Founded: 1941Country: Japan
Revenue: $16.22 billion+
Competitive Edge: Urban redevelopment leadership
Mitsui Fudosan is Japan’s largest and most influential real estate developer, with a massive portfolio spanning office buildings, luxury and mid-market residential projects, commercial facilities, logistics centers, and hospitality assets.
The company is particularly known for its large-scale redevelopment projects, such as the Nihonbashi Revitalization Plan and Tokyo Midtown. It also owns and manages numerous flagship properties in Japan’s most valuable districts, making it a core urban developer rather than just a property investor.
Beyond Japan, Mitsui Fudosan has strategically expanded into major global cities like New York, Los Angeles, London, and Singapore. In New York, it has invested in high-profile developments like 55 Hudson Yards, showcasing its commitment to global prestige projects.
In 2024, the company invested in a $2 billion skyscraper project at 55 Pitt Street in Sydney, in collaboration with Australian developer Mirvac. That same year, it partnered with Singapore’s Keppel Corporation to develop an AI-ready data center in Tokyo. [16][17]
7. Longfor Group
Founded: 1993Country: China
Revenue: $17.43 billion+
Competitive Edge: High-quality residential projects and commercial properties
Longfor Group is one of China’s leading non-state-owned real estate developers. Its diversified portfolio includes residential developments, commercial properties, and shopping malls. Notably, it operates well-known retail brands such as “Paradise Walk” and “Starry Street”, which have become substantial contributors to its recurring income.
The company has also ventured into long-term rental apartments and smart construction services, aligning with evolving market demands. It has developed over 1,300 property projects since its inception, focusing primarily on tier-1 and tier-2 cities across China. [18]
However, since 2022, the company has faced challenges due to the broader downturn in China’s real estate market. Its net profit declined to $1.42 billion in 2024, down from $1.76 billion in 2023 and $3.33 billion in 2022, reflecting the industry’s headwinds.
Longfor also actively incorporates low-carbon and green initiatives across its business operations to meet environmental standards and respond to changing consumer and regulatory expectations. For example, in 2023, all of its new projects met China’s national green building star rating standards, covering a total area of over 130 million square meters. [19]
6. Jones Lang LaSalle
Founded: 1783Country: United Kingdom
Revenue: $23.43 billion+
Competitive Edge: Top institutional client base
Jones Lang LaSalle (JLL) has a long history that goes back over 200 years. It started with Jones Lang Wootton in London in 1783 and LaSalle Partners in the US in 1968. These two companies merged in 1999 to become JLL. Today, JLL has offices in more than 80 countries and employs 112,100 people.
Its business model revolves around delivering integrated real estate solutions that combine deep industry expertise with advanced technology. It has rolled out AI solutions for lease analysis, workplace analytics, and investment decision-making via JLLT. The firm’s global platform allows it to serve a diverse client base, including corporations, investors, and government entities.
In 2024, JLL partnered with IBM to develop a platform that tracks sustainability data for clients’ commercial properties. The company is committed to achieving net-zero carbon emissions across all of its operations, including client sites, by 2040. [20]
5. CBRE Group
Country: United States
Revenue: $35.76 billion+
Competitive Edge: End-to-end real estate solutions
CBRE Group is the world’s largest commercial real estate services and investment firm. It offers a comprehensive suite of services, including property sales and leasing, facilities and project management, investment management, appraisal and valuation, and strategic consulting.
In 2024, CBRE acquired Direct Line Global, a leading provider of mission-critical data center infrastructure. In 2025, it fully acquired Industrious, a co-working firm, by purchasing the remaining 60% stake for approximately $800 million, enhancing its offerings in the flexible workspace sector.
The Group serves a diverse clientele, ranging from small businesses to large multinational corporations, including nearly 90 of the Fortune 100 companies. [21]
It also invests in technology and data analytics to enhance service delivery, improve client outcomes, and drive operational efficiency. CBRE’s research indicates that Europe is set to see a record data center capacity roll-out, driven by the expansion of AI and cloud computing activities. [22]
4. Dalian Wanda Group
Founded: 1988Country: China
Total Assets: $81 billion+
Competitive Edge: Diversified business model
Dalian Wanda Group has evolved from a regional real estate developer into a diversified enterprise with interests spanning commercial property, culture and tourism, and investment sectors. Its flagship brand, Wanda Plaza, represents its extensive network of commercial complexes across China, integrating shopping malls, hotels, and entertainment facilities.
The company’s cultural tourism initiatives, such as the development of Wanda Culture Tourism Cities, aim to build large-scale entertainment and leisure destinations that merge hotels, theme parks, and commercial facilities. These projects reflect Wanda’s commitment to diversifying its business model and capitalizing on China’s growing domestic consumption.
In recent years, Wanda has undertaken many steps to streamline its operations and address financial challenges. For example, in 2024, the company revealed plans to establish a fund ranging between $7 and $12.4 billion to meet tax obligations and debt repayments. [23]
Wanda has also been adjusting its international portfolio. In 2025, it planned to fully exit its investment in Chicago’s St. Regis Tower by listing 37 condos for sale, signaling a strategic retreat from certain overseas real estate ventures. [24]
3. Vanke
Founded: 1984Country: China
Revenue: $47.59 billion+
Competitive Edge: Partnerships and access to state-backed resources
Vanke has evolved from a regional developer into a diversified conglomerate, engaging in residential and commercial property development, property services, logistics, rental housing, and property management services.
Vanke’s business model primarily revolves around delivering quality housing solutions tailored to the needs of ordinary citizens. It emphasizes the development of small to medium-sized residential units, with properties under 144 square meters constituting over 90% of its offerings annually.
They have also invested in logistics through VX Logistics Properties, operating over 150 projects in about 45 cities.
In 2024, Vanke made a loss of $7.33 billion, reflecting the ongoing liquidity crisis. To address these challenges, the company has implemented strategic steps to stabilize its operations. In 2025, its property management unit, Onewo, announced plans to acquire the remaining 55% stake in Shanghai Xiangda for approximately $120 million, aiming to consolidate its holdings and boost profitability. [25]
2. Prologis
Founded: 1983Country: United States
Revenue: $8.2 billion+
Competitive Edge: Increasingly tech-integrated
Prologis owns, develops, and manages high-quality logistics real estate in key global markets. Its model is becoming more technology-driven, providing tenants with advanced features like real-time facility usage data, energy efficiency services, automated infrastructure, and on-site renewable energy solutions.
Unlike traditional retail or residential developers, Prologis owns and leases out large-scale “last-mile” and distribution infrastructure near major cities, airports, seaports, and transportation corridors. In 2022, the company acquired Duke Realty for nearly $26 billion, further cementing its dominance in the US logistics market. [26]
Prologis now manages approximately 1.3 billion square feet of logistics facilities, serving around 6,700 customers, including major corporations like Amazon, FedEx, and Home Depot. [27]
In 2024, the company reported solid financial performance, with revenue reaching $8.2 billion, up 2.22% year-over-year. It also completed the sale of its Elk Grove data center, demonstrating its ability to create value through strategic asset management.
As of 2025, Prologis is the largest REIT (Real Estate Investment Trust) in the world by market capitalization.
1. Country Garden
Country: China
Revenue: $56.73 billion+
Competitive Edge: Tier 3 & 4 city dominance
Country Garden is known for its aggressive growth strategy, high-volume residential housing model, and extensive footprint in Tier 3 & 4 cities across mainland China. It has played a crucial role in China’s urbanization efforts, delivering over 600,000 homes across 31 provinces and 249 cities in 2023 alone. [28]
While many developers competed for land in Tier 1 cities, Country Garden focused on less saturated markets with untapped demand. This gave it scale advantages and lower land acquisition costs.
A key aspect of their business model is debt-fueled growth — Country Garden rapidly expanded its footprint using high leverage and revolving credit facilities, a strategy that was effective during China’s housing boom but became a liability post-2021.
The company’s international ventures include notable projects like Forest City in Malaysia, envisioned as a $100 billion development to house 700,000 residents by 2035. Despite initial enthusiasm, the project has faced setbacks, with only 15% completed as of 2024.
In recent years, Country Garden has diversified its operations, venturing into sectors like robotics and agriculture. They have established Bright Dream Robotics to develop intelligent construction systems and Qianxi Robotics Group to innovate in the food service industry. [29]
Read More
- 13 Best Multifamily Investment Companies
- 13 Largest Data Centers In The World
- 33 Best Rental Business Ideas
- Market Insights, Real Estate market worldwide, Statista
- Real Estate News, Strength in numbers, National Association of Realtors
- Press Release, Digital Realty enters Indonesia through a new Joint Venture, Digital Realty
- Investor Relations, We are a member of the S&P 500 and FT Global 500, Public Storage
- Zacks Equity Research, Public Storage concludes $2.2B Simply Self Storage buyout, Yahoo Finance
- Realty Income, The monthly dividend company, SEC
- Investors, Realty Income announces 658th consecutive common stock monthly dividend, Realty Income
- Varun Kumar, 19 tallest buildings in the world, RankRed
- Press Release, Simon Property Group reports first quarter results and raises quarterly dividend, Simon
- Richard Berger, Simon to spend $800m on mixed-use, Globest
- News, Vici Properties completes $17.2 billion strategic acquisition of MGM Growth Properties, Vici
- Homepage, A global provider of digital communications infrastructure, American Tower
- Harrison Miller, AI demand drives S&P 500 REIT Xscale portfolio above $8 billion, Investors
- KE Holdings, A decent business in China’s most hated sector, SeekingAlpha
- Benn Dorrington, Commercial property investment set to rise, RealCommercial
- Technology, Singapore’s Keppel to buy Japanese AI-ready data centre, Reuters
- About Page, Commercial investment and asset management, Longfor Group
- Sustainability, Environmental concepts and performance, Longfor Group
- Newsroom, IBM and JLL collaborate on an ESG reporting and data management solution, IBM
- About Us, Operating across every dimension of commercial real estate, CBRE
- Lucy Raitano, Europe set to see record data centre capacity roll-out, Reuters
- Jackie Cai, Wanda aims to create funds of up to $12.4 billion backed by malls, Bloomberg
- Caroline Broderick, Dalian Wanda Group moves to fully exit Chicago’s St. Regis tower, CoStar
- Deals, Vanke unit Onewo to buy remaining stake in Shanghai Xiangda for $120 million, Reuters
- Corporate News, Prologis to combine with Duke Realty in $26 billion all-stock transaction, Prologis
- Market Environment, Implications for logistics real estate, Prologis
- Annual Report, Business review and outlook, Country Garden Holdings
- About Us, We are dedicated to the robot industry, Country Garden Holdings
