Chinese property developer Evergrande has emerged as the world’s most valuable real estate brand with a brand value of 16.2 billion U.S. dollars, according to the latest report published Tuesday by Brand Finance, an independent brand valuation and strategy consultancy.

In addition to becoming the most valuable real estate brand in the world, last year also saw Evergrande emerge as the fastest-growing brand in the Brand Finance Real Estate 25 ranking at an eye-watering 118 percent.

Evergrande Group is China’s second largest property developer by sales and is based in southern China’s Guangdong Province.  The company states that tourism is now their key investment field.  Evergrande has invested in 15 ‘Children’s World’ theme park projects, scheduled to open to the public in the next two to five years.

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The brand value of Dalian Wanda Commercial Properties, the world’s largest property developer fell significantly over the last year, losing the number one ranking and dropping to third.  This reflects the company’s move away from property development towards a focus on alternative business opportunities. Founded in 1988, Wanda Group is based in Beijing.

This realignment represents a more brand-dependent long-term strategy based on operating various property services, and less focused on traditional property sales. Parent brand Dalian Wanda Group also saw its revenues drop over the past year

David Haigh, CEO of Brand Finance, said: “The global property market has endured cycles of boom and bust, and the Chinese property market is unlikely to be substantially different in the future. Evergrande is posed to ride the surge, but Dalian Wanda’s move away from traditional property development represents an effort to build the value of their brand outside the cyclical nature of this industry.”

The global real estate brand rankings are dominated by Chinese property developers, with the top nine most valuable real estate brands all from China. Beyond the Chinese brands, the most valuable real estate brands in the world are the UAE’s Emaar Properties, followed by American brands Simon Property Group and CBRE.

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Emaar Properties is publicly listed in the UAE and continues to attract significant brand value for its role in developing the Dubai Mall, the world’s largest shopping mall, and the renowned Burj Khalifa, the tallest building in the world. Simon Property Group and CBRE both operate a number of commercial real estate developments, focused on retail and offices.