Multi Corporation has been ousted from first place in the PropertyEU ranking of top developers in 2009 both in terms of the value and the size of its development pipeline. In value terms, ING Real Estate Development now takes the lead with a pipeline valued at EUR 7.7 bn at end-2009. It is followed by MAB Development Group with EUR 7.1 bn. Multi Corporation ranks third with EUR 6.7 bn.

MAB Development leads the ranking in terms of size of the pipeline with 3.6 mln m2, followed by Multi with 2.2 mln m2. ING RED ranks third with 1.95 mln m2. In total, the top 25 players surveyed by PropertyEU (excluding Atrium European Real Estate) accounted for a pipeline of 20 mln m2. A year ago, the top five accounted for 25 mln m2 with MAB, Multi and ING together accounting for 16 mln m2.

In value terms, the pipeline of the top 25 developers comes to EUR 40 bn. By comparison, the top five alone accounted accounted for EUR 45 bn in 2009, with the Dutch trio MAB, Multi and ING together accounting for nearly EUR 40 bn. MAB attributed its high pipeline figure to the strong financial position of its parent company Rabobank.

To read the full story, click here to subscribe to PropertyEU Magazine.