XEL
2nd
Xcel Energy
$51.04Bn
80.37
-0.16%
-1.01%
The company operates nonregulated subsidiaries, such as Eloigne Capital Services, that contribute income through real estate development activities.
IX
2nd
Orix
$40.23Bn
35.79
-3.32%
+44.90%
The 'Real Estate' segment explicitly includes real estate development and residential condominium development, where the company invests in and develops projects on its own balance sheet.
CBRE
2nd
Cbre
$39.33Bn
136.39
-3.37%
-9.12%
The company engages in real estate development through the Trammell Crow Company, which manages a commercial development pipeline exceeding $29.5 billion and generates income from development fees and profit sharing.
AMH
2nd
American Homes 4 Rent
$11.80Bn
33.08
+1.35%
+3.12%
The company maintains an integrated platform for land acquisition, design, and construction to build homes for its rental portfolio. It earns income from fees related to this internal development program.
ACM
2nd
Aecom
$8.59Bn
66.72
-2.16%
-49.53%
Through its AECOM Capital (ACAP) segment, the company invests in and develops real estate projects, earning income from real estate development sales and management fees.
FR
2nd
First Industrial Realty Trust
$7.16Bn
53.98
-2.77%
-2.42%
The company actively develops and redevelops industrial real estate, as evidenced by four ongoing projects totaling 0.7 million square feet with an estimated investment of $124.2 million.
RYN
2nd
Rayonier
$6.53Bn
21.86
+8.33%
-1.00%
The company has a dedicated Real Estate segment that pursues 'higher and better use' land sales and development projects, such as Wildlight and Heartwood, and sells land for improved and unimproved development.
MTN
2nd
Vail Resorts
$5.64Bn
158.41
-1.65%
+8.91%
The company has a dedicated Real Estate segment that acquires, develops, and sells land parcels in and around resort communities to third-party developers.
CUZ
2nd
Cousins Properties
$4.86Bn
29.50
-2.74%
+13.99%
The company is described as fully integrated and engages in the development of opportunistic mixed-use developments and office properties. It earns specific revenue from development fees associated with these activities.
FHI
2nd
Federated Hermes
$4.74Bn
64.07
-2.50%
+27.60%
The company operates a dedicated segment for real estate development and renewable energy project development services, providing project structuring, financing, and execution for domestic and international customers.
HHH
Howard Hughes Holdings
$4.67Bn
78.16
-1.20%
-0.23%
The company's core business is centered on a large-scale mixed-use real estate platform focused on master planned communities and strategic real estate development. It generates significant revenue from the sale of finished lots and undeveloped superpads to homebuilders, as well as the development of condominium towers.
IBOC
2nd
International Bancshares
$4.24Bn
68.19
-0.67%
-0.70%
The company has a Real Estate Development segment that owns a majority interest in a partnership undertaking residential and commercial property projects for resale or lease.
MRP
Millrose Properties
$4.08Bn
26.45
-1.82%
-15.22%
Millrose purchases residential land and develops it into finished homesites for sale to homebuilders. Its core business is the acquisition and development of land, which is the defining activity of Real Estate Development.
JOE
St Joe
$3.95Bn
69.86
-0.87%
+17.43%
The company is described as a diversified real estate development company that generates primary revenue through the sale of residential homesites and the development of commercial and mixed-use properties. It develops and sells homesites across multiple communities to homebuilders and retail customers.
GRTUF
2nd
Granite Real Estate Investment Trust
$3.88Bn
61.93
+2.53%
+11.47%
The company actively engages in the development of real estate, citing development projects and redevelopment as a means of generating income and future growth opportunities.
VTMX
2nd
Vesta Real Estate Corporation, S.A.B. de C.V
$3.26Bn
36.88
-0.38%
+21.40%
The company actively develops real estate, managing a land bank for future projects and offering 'build to suit' facilities tailored to client specifications.
UE
2nd
Urban Edge Properties
$2.62Bn
20.82
-1.33%
+10.51%
The company has a dedicated Development and Redevelopment segment focused on the planning and execution of new construction and major renovation projects, such as transforming underutilized retail spaces into mixed-use developments.
CBL
2nd
Cbl & Associates Properties
$1.48Bn
47.83
-3.72%
+55.54%
The company is described as fully integrated and earns additional revenue from development fees and the development of its properties.
FOR
Forestar
$1.25Bn
24.49
-1.69%
-2.20%
Forestar is a residential lot development company that invests in land acquisition and development to sell finished single-family residential lots to homebuilders. Its revenue is generated from the sale of these finished lots and land banking activities, fitting the description of a non-REIT real estate developer.
HBNB
2nd
Hotel101 Global Holdings
$1.10Bn
4.72
-5.60%
-8.53%
The company develops hotel units and generates revenue from the sale of these units to buyers during the pre-sale phase. This activity involves the development of real estate for sale to third-party owners.
IRS
2nd
Irsa Investments & Representations
$1.02Bn
12.10
-2.34%
-17.18%
The company engages in the development and sale of undeveloped land parcels and residential projects, such as the Ramblas del Plata initiative.
SKYH
2nd
Sky Harbour
$766.33Mn
10.01
-2.63%
+1.73%
The company is described as an aviation infrastructure development company that builds its own network of Home Base Operator campuses using a proprietary prototype hangar design to address supply imbalances.
CYD
2nd
China Yuchai International
$750.37Mn
20.00
-7.28%
-46.50%
Through its stake in HLGE, the company engages in property development projects in Malaysia that support its hospitality business.
CRESY
2nd
Cresud
$640.51Mn
9.03
-3.53%
-21.41%
The company engages in the development, maintenance, and sale of undeveloped parcels of land and trading properties, as well as the development and disposal of farmlands.
FPH
Five Point Holdings
$630.55Mn
4.26
-7.79%
-29.59%
Five Point Holdings is a non-REIT developer that acquires land, obtains entitlements, and performs horizontal infrastructure improvements for mixed-use planned communities. Its primary revenue is generated from the sale of residential and commercial land parcels to homebuilders and commercial developers.
TRC
Tejon Ranch
$453.96Mn
16.80
+3.19%
+5.20%
Tejon Ranch is described as a diversified real estate development company focused on the planning, entitlement, and development of large-scale master-planned communities like Mountain Village, Grapevine, and Centennial. It generates revenue from the sale of entitled land parcels to third parties and the construction of buildings for its commercial and industrial portfolios.
TCI
2nd
Transcontinental Realty Investors
$434.56Mn
50.30
-0.10%
+5.12%
The company holds land for future appreciation or development and generates cash flows from the sale or development of these land holdings.
FRPH
2nd
Frp Holdings
$351.33Mn
18.30
-2.61%
-23.85%
The company has a dedicated Development Segment that evaluates land, converts non-income producing land into assets through construction, and sells these developments to third parties.
ARL
2nd
American Realty Investors
$330.96Mn
20.49
-2.38%
+20.74%
The company is involved in the acquisition and development of apartment communities and office buildings, indicating a substantive real estate development business line.
REG
2nd
Regency Centers
$292.78Mn
76.28
-0.73%
+9.88%
The company is described as fully integrated and earns income from development fees, as well as having a proven ability to develop and redevelop properties.
MLP
Maui Land & Pineapple
$283.24Mn
14.25
-2.33%
-8.06%
The company's primary activity involves land planning, entitlement, development, and sales of residential, resort, commercial, agricultural, and industrial real estate, specifically within the Kapalua Resort master-planned community. This is a core part of its revenue model through the Land Development and Sales segment.
ALCO
2nd
Alico
$276.04Mn
37.22
-2.36%
+14.63%
The profile explicitly mentions a long-term strategy focused on real estate development and notes that the company has generated significant cash from the sale of land parcels.
NTPIF
Nam Tai Property
$260.36Mn
4.30
+0.00%
+7.23%
Nam Tai Property is described as a real estate developer that transforms former industrial sites into modern technology parks, such as the Nam Tai Inno Park and Nam Tai Technology Center. Its revenue comes from property sales, land use rights transfers, and the development of mixed-use projects integrating production, office, and commercial spaces.
PCYO
2nd
Pure Cycle
$257.84Mn
10.70
-0.65%
-2.73%
The company develops the Sky Ranch Master Planned Community, designing and constructing horizontal infrastructure to sell finished residential, commercial, and industrial lots to home builders.
CHCI
2nd
Comstock Holding Companies
$188.85Mn
18.61
-6.81%
+24.15%
Comstock is a developer of mixed-use and transit-oriented properties, having developed flagship projects such as Reston Station and Loudoun Station in Northern Virginia.
LMNR
2nd
Limoneira
$188.75Mn
10.41
-1.05%
-26.07%
The company pursues residential and mixed-use development projects, specifically through its Harvest at Limoneira partnership and joint venture with the Lewis Group of Companies.
STRS
Stratus Properties
$135.79Mn
17.01
+0.06%
-11.87%
Stratus Properties focuses on the entitlement, development, and sale of multi-family and single-family residential and commercial real estate, including a portfolio of 1,500 acres under development. Its Real Estate Operations segment specifically generates revenue from the disposition of developed or undeveloped land and the sale of completed homes and commercial buildings.
OZ
2nd
Belpointe PREP
$129.22Mn
32.62
-5.28%
-50.01%
The company's business model explicitly includes acquiring and developing commercial and mixed-use real estate within qualified opportunity zones to increase its portfolio value.
AXR
2nd
Amrep
$112.83Mn
21.19
-0.75%
+1.24%
The company acquires raw land, obtains entitlements and infrastructure approvals, and develops it into finished lots for sale to builders and investors. This constitutes a substantial non-REIT real estate development business line.
GAMG
Global Asset Management
$105.64Mn
0.24
-4.00%
-4.00%
The company operates a real estate development segment through DC Rental Portfolio Corp., which acquires, develops, and manages multi-family residential housing. Specifically, it is renovating the Saratoga Apartments for conversion to condominium units and has other properties under contract for redevelopment.
PBHC
2nd
Pathfinder Bancorp
$104.96Mn
16.74
-0.06%
+10.86%
The company owns a wholly owned subsidiary, Whispering Oaks Development Corp, which specifically undertakes real estate development projects.
BBXIB
BBX Capital
$103.63Mn
5.00
+0.00%
-9.09%
Altman, a principal holding, focuses on the acquisition, development, and sale of multifamily apartment communities, warehouse and logistics facilities, and single-family master-planned housing. It generates revenue through development fees, acquisition fees, and proceeds from the sale of completed real estate projects.
SRG
2nd
Seritage Growth Properties
$94.06Mn
1.67
-5.65%
-58.56%
The company actively engages in the development and redevelopment of its properties to enhance asset value through site densification and entitlement achievement before selling them.
STHO
2nd
Star Holdings
$91.46Mn
7.57
-3.07%
+2.71%
The company owns and monetizes master-planned communities, such as Magnolia Green, and generates revenue from the sale of land and development sites to homebuyers and developers.
CPHC
2nd
Canterbury Park Holding
$82.26Mn
15.87
+0.70%
+2.39%
The company has a dedicated real estate development segment that manages the development of company land for residential, office, retail, and hotel projects through joint ventures and sales.
LPA
2nd
Logistic Properties of the Americas
$73.35Mn
2.32
-6.45%
-16.25%
The company is a fully integrated real estate company that develops logistics and industrial facilities, earning additional income from development activities in markets like Costa Rica, Colombia, and Peru.
GEG
2nd
Great Elm
$66.32Mn
2.15
-2.27%
-12.24%
The company's Build to Suit segment acquires land, constructs improvements, and sells the completed developments with attached leases, which is a core real estate development activity.
KANP
Kaanapali Land
$53.24Mn
29.70
+0.00%
-11.34%
The company focuses on acquiring entitled land, pursuing government approvals, and bringing residential, commercial, and mixed-use projects to market. Revenue is generated primarily from the sale of land parcels and infrastructure improvement agreements.
ETST
2nd
Earth Science Tech
$28.76Mn
0.10
+0.00%
-37.50%
The company operates Avenvi, LLC, which is engaged in real estate development, asset management, and financing, providing turnkey development solutions.
LTSV
2nd
Lightstone Value Plus REIT IV
$21.87Mn
2.70
+2.66%
—
The company engages in real estate development, specifically through the 40 East End Avenue Joint Venture, where it developed and sold luxury residential condominium units.
NOMA
2nd
Nomadar
$19.72Mn
1.29
-13.42%
-86.17%
The company is engaged in the planning and development of the JP Financial Arena, which includes a hotel, convention center, and retail spaces intended for future lease and service income.
AEI
Alset
$19.45Mn
0.50
-7.41%
-81.48%
Alset develops land subdivision projects and sells the finished residential lots to builders such as Davidson Homes, LLC and Century Land Holdings of Texas, LLC. This activity of developing land for sale is the core of its real estate segment.
MRNO
2nd
Murano Global Investments
$15.15Mn
0.19
-13.64%
-92.49%
The company is an international development group that structures and develops real estate assets, including the GIC Phase II condominiums in Cancun and the Baja Park Development Project in Ensenada.
LGPS
Logprostyle
$14.17Mn
0.60
-7.69%
-46.43%
LogProstyle's primary revenue (91.1%) comes from real estate renovation, resale, and development, specifically purchasing land and condominium units to develop and sell to individual and institutional customers. This aligns with the non-REIT real estate development model described in R-18.
GEDC
TerraVolt Holdings
$12.35Mn
0.48
+26.32%
+26.32%
CalEthos focuses on the development of large-scale data center campuses, including land acquisition and site preparation. The company's business model involves delivering 'construction ready data center sites' and 'turnkey solutions' to developers and hyperscale providers.
BRN
2nd
Barnwell Industries
$12.27Mn
0.85
-1.16%
-30.33%
The company operates a Land Investment Segment that holds interests in Hawaiian land for residential and resort development. Revenue is derived from the sale of residential lots and development rights through partnerships like Kaupulehu Developments and Kukio Resort.
AWCA
Awaysis Capital
$8.19Mn
0.02
+0.00%
-91.67%
Awaysis Capital focuses on the acquisition, redevelopment, and sale of residential vacation home communities, including condominiums, villas, and single-family homes. Its primary revenue is generated from the sale of these developed residential units on its resort properties.
GYRO
Gyrodyne
$5.95Mn
4.01
-2.67%
-58.74%
Gyrodyne's primary business is focused on pursuing entitlements, securing subdivision and site plan approvals, and preparing properties for sale to developers to maximize value. This activity of enhancing underdeveloped land through zoning and approvals for eventual sale is the core of real estate development.
NEN
2nd
New England Realty Associates Limited Partnership
$5.22Mn
45.00
+0.00%
-36.67%
The Partnership is explicitly engaged in the business of developing real estate and improving its properties to achieve capital appreciation, in addition to its holding and operating activities.
SRRE
Sunrise Real Estate
$4.81Mn
0.07
+0.00%
-53.33%
The company is engaged in the planning, construction, and sale of residential projects, including villa-style housing and multi-unit developments. This activity is described as a core segment (Real Estate Development) and generates revenue through property sales.
ILAL
International Land Alliance
$3.18Mn
0.85
-15.00%
+466.67%
International Land Alliance is a residential land development company that acquires, subdivides, improves, and sells residential and commercial building plots. Its core business involves master-planned communities like Oasis Park Resort and Rancho Costa Verde, where it generates revenue from property and land sales.
TPHS
Trinity Place Holdings
$1.99Mn
0.03
+0.00%
-40.00%
Trinity Place Holdings is described as a real estate development and investment company that manages mixed-use projects, specifically the 77 Greenwich Street project featuring a residential condominium tower and retail space. The company is not structured as a REIT, and its primary activity involves developing and monetizing these real estate assets.
BUDZ
2nd
Weed
$1.36Mn
0.01
-50.00%
-75.00%
The company has a dedicated Real Estate and Infrastructure segment focused on the acquisition and development of properties, such as its 43-acre New York waterfront site intended for a luxury resort and condominium complex.
DREM
2nd
Dream Homes & Development
$971.29K
0.02
+0.00%
+100.00%
The company engages in real estate development by acquiring raw land, obtaining approvals, and installing infrastructure to sell improved finished lots to national home builders.
MYCB
2nd
My City Builders
$943.54K
0.14
+0.00%
-83.53%
The company engages in real estate development through its Land Banks segment, where it acquires large tracts of land or clusters of homes and develops the sites.
UOKAF
Mdjm
$3.64K
0.12
+0.00%
-99.88%
MD UK focuses on the acquisition and development of properties like Fernie Castle and the Robin Hill Hotel to transform them into mixed-use cultural venues. The company is actively investing approximately $10 million in the Fernie Castle Oriental Landscape Project for future operation.
CRDV
Community Redevelopment
$0.00
0.00
—
-100.00%
The company explicitly positions itself within the real estate redevelopment industry, focusing on building assets in secondary and tertiary value-added markets and opportunity zones. Its core mission is community-oriented real estate redeveloper targeting economic growth through revitalization.
WBSR
Webstar Technology
$0.00
0.00
—
-100.00%
Webstar Technology is described as a specialty real estate development company focused on the planning and execution of mixed-use developments. Its primary activity is the development of the Forge Atlanta project, a 10-acre commercial and residential complex, with revenue expected from property sales and development.
