Following the 2018 Forbes Global 2000 list of the world’s largest companies, this article examines the top ten real estate developers in Europe. According to Statista, the European real estate industry is mainly focused on the immovable office industry, with $20.6 billion being invested in the sector in 2016.
10. LEG Immobilien AG
Headquartered in Dusseldorf, LEG Immobilien AG is Germany’s largest real estate developer, according to Forbes. The company reported a net revenue of $958mn in 2017, holds $12.41bn in assets and achieved $1.04bn in profits – a 4.26% increase year-over-year. According to the Financial Times, the majority of LEG Immobilien’s portfolio is located in the North Rhine Westphalia region of Germany. It is comprised of diversified assets, ranging from urban apartments to rural housing complexes, and contains parcels of undeveloped land.
9. SEGRO Plc.
SEGRO Plc. was founded in 1920. Is the second-oldest company on the list. The investment trust, headquartered in London, specializes in the growth, leasing and management of “new warehouses and light industrial property” and, according to Forbes owns warehouses in distribution markets in the UK, Belgium, the Netherlands and the Czech Republic, and offices in Slough and Milan. In 2017, SEGRO posted a net income of $382mn and the company’s asset portfolio was estimated at $10.73bn, with a gross profit of $1.23bn.
8. Lundbergs AB
Lundbergs AB, a Stockholm-based real estate developer, serves as a parent company and operator for other commercial enterprises including real estate leasing. The company also operates ventures for equity and securities trading, and forestry and paper manufacturing. In 2017 Lundbergs posted a net profit of $2.39bn. The overall asset portfolio of the company is estimated at $15,78bn, with overall recorded income equivalent to $782mn, reflecting a year-over-year decline of more than 40 percent.
7. British Land
British Land, which has been running as a real estate investment trust since 1856, is the oldest in the Top Ten. The London-based business focuses on UK retail outlets and London offices of high quality. According to Forbes, its portfolio of assets includes retail parks, supermarkets, shopping malls, department stores, residential and offices. British Land posted $790mn of net sales in 2017, with a total asset portfolio of $17.53bn. The company posted a $794.2mn income, doubling its year-over-year bottom line.
6. Aroundtown Properties
Luxembourger real estate holdings plc Aroundtown Properties specializes in direct and indirect management of real estate in the European market. Net revenues in 2017 totaled $594mn, with gross income of $1.45bn – a record high since entering Forbes Global 2000 in 2015. The business declared their uplisting on the Frankfurt Stock Exchange to Prime Standard status in June 2017. It currently has a market cap of $8.6bn.
5. Foncière des Régions
Foncière des Régions, headquartered in Metz, France, owns and operates properties, designs real estate solutions and manages hotels according to Forbes. The business has large offices in France as well as Italy and operates a number of parking lots throughout the country. Foncière des Régions posted net revenues of $1.12bn in 2017, with gross income hitting $1.03bn, the first time since its establishment in 1963 that the amount has breached $1bn. The company directly and indirectly controls $26.18 billion in assets.
4. Klepierre SA
Klepierre SA, Parisian real estate developer, operates commercial properties in France, Belgium, Scandinavia, Italy, Spain, Central Europe and other countries. The business specializes in shopping center activities, supermarket malls, and hypermarkets. Klepierre has more than doubled its asset base since 2014, from last year’s $12.4bn up to $30.02bn. 2017 also marked a ten-year gross profit highlight, with a final $1.39 billion bottom line.
3. Gecina SA
Gecina SA operates out of Paris, France, with its operations divided between Economic and Demographic subsectors. The former is involved in the development and management of offices and hotels, while the latter oversees real estate for students, residentials, and healthcare. In 2017, Gecina posted a net sales of $799mn, and a gross profit of $2.14bn, which is a ten-year high. The asset base of the company has grew significantly in size between 2016 and 2017, jumping from $13bn to $24.1bn, another high point in ten years.
2. Abitare In Spa
Abitare In Spa has its headquarters in Milan, Italy and is active in urban planning projects at the architectural, interior and exterior design stages. This is also the smallest organization in the Top Ten, with only 13 workers. Founded in 1976, Abitare In Spa entered Forbes Global 2000 only in 2017 and is already ranked in the top 500 for sales worldwide. Last year the company posted overall sales of $21.55bn and its portfolio of assets is estimated at $32.67bn.
The largest developer of European real estate is based in Paris, too. Unibail-Rodamco sits in the top 300 income companies of the Forbes Global 2000, with a record $2.75bn bottom line in 2017, marking the company’s seven-year high point. Unibail-Rodamco works to develop and manage offices, shopping centers, and exhibition and convention spaces across Europe. In 2017 it posted net revenues of $2.34 billion and its current portfolio of assets is estimated at $51.92 billion, an all-time high since the company was formed in 1968.