Two Australian firms have made the cut for inclusion in a ranking of the world’s top 100 real-estate firms according to their total value of assets.

In its latest ranking, Global RealEstateInsight has revealed that Westfield Corporation came in at number 42 with total assets of $US29.3 billion whilst Lend Lease also made the cut in 94th place with $13.1 billion in assets.

All up, the top 100 owned around $US3.6 trillion in property, up from $3.2 trillion last year.

Canada based Brookfield Asset Management remains the standout leader with $US130 billion in assets, followed by Blackstone (US, $US94 billion), TIAA-CREF (US, $US89 billion), Hines (US, $US87 billion) and CBRE (US, $US86 trillion).

In terms of countries, the US and China topped the list, occupying 32 places with an asset value of $US1.3 trillion and 17 spots with a total value of $621.5 billion respectively.

All up, the US and Asia hold $US2.8 trillion in assets or 88 percent of the top 100 total.

Part of the former Westfield Group, Westfield Corporation operates the US, UK and European assets of the former Group, which was split into two in 2014 under an arrangement which saw the Group’s Australian and New Zealand assets moved to a new company known as the Scentre Group.

Pulling in a net profit after tax of $2.325 billion, the group completed more than $1 billion in new projects during 2015 and divested non-core assets of roughly $1 billion.

Lend Lease, meanwhile, delivered double digit earnings growth in the financial year ended 31 December and has $22 billion in funds under management as well as a development pipeline of $46.6 billion in its property development and construction arm.

Around Australia, real-estate companies have been benefiting from a strong improvement in the housing market as well as high levels of foreign investment pouring into office, retail and industrial assets.

In the second half of last year, for example, Lend Lease saw a 49 percent increase in residential pre-sales and a 45 percent rise in residential settlements.

In the commercial property sector, meanwhile, activity is running hot amid strong demand from overseas investors.

In the first nine months of last year, for example, around $19.5 billion worth of assets changed hands, according to the Commonwealth Bank – a figure which far exceeded ten year averages over the same period of $15 billion.

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