Where is real estate?
This month, CNN’s Fortune Magazine named the 2011 “World’s Most Admired Companies” listing the top 350 global contenders, and in the top 50, not one real estate related company was featured. Four real estate companies were listed, simply lower in the top 350.
Of the most admired in the real estate industry, Simon Property Group took the top honor followed by Vornado Realty Trust, CB Richard Ellis Group, and Jones Lang LaSalle.
Commercial real estate companies fared very well in the Fortune study, but residential real estate companies were nowhere to be found in the top 350.
The “contenders” that almost made the cut
Fortune named the “contenders” that almost made the top 350 but didn’t quite make it, listing Equity Residential as the fifth most admired real estate company followed by Realogy and General Growth Properties.
“Our colleagues across the world work diligently to drive value and innovative solutions for our clients,” said Colin Dyer, Jones Lang LaSalle Chairman and CEO. “It is an honor to be recognized for the responsible corporate citizenship, superior client service and integrated global platform that enable them to deliver successful results.”
According to Fortune, they partner with “Hay Group, a global management consulting firm, employ rigorous methodology to compile the list. It started with some 1,400 companies: the FORTUNE 1,000—the 1,000 largest U.S. companies ranked by revenue; non-U.S. companies in FORTUNE’s Global 500 database with revenues of $10 billion or more; and the top foreign companies operating in the U.S. The companies were then sorted by industry and the 15 largest for each international industry and the ten largest for each U.S. industry were considered.
A total of 673 companies, from 57 industries and 32 countries were surveyed. To create the 57 industry lists, Hay Group asked executives, directors, and analysts to rate companies in their own industry on nine criteria, from investment value to corporate social responsibility. This year only the best are listed: A company’s score must rank in the top half of its industry survey to be named most admired.”