Duke of Westminster no longer UK's richest property magnate "London is the real estate capital of the world and the latest Estates Gazette Rich List shows why," he said. It offers a safe haven in a turbulent world. It is an established hub for global businesses of all shapes and sized. And it is a market that can make shrewd investors fabulously wealthy. Even without the surge of new investors from Asia, he [the Duke] would have fallen behind longstanding UK investors the Reuben Brothers. It shows how London is changing. Given how the global economy i shifting, the Duke may never top the property rich list again. The Rich List lays bare the surge of foreign investment and new money into the UK's property market and London in particular, with 73 new entrants into the top 250, compared to just 21 in 2012. The Duke of Westminster's property company Grosvenor controls £12.5bn of property around the world, with assets including its historic estate in Mayfair and Belgravia, as well as the Liverpool One shopping complex. Even with growth over the last year of £500m, the Duke only made it into fourth place with £8bn. The investor who has claimed the Duke's crown is China-based Wang Jianlin of the Dalian Wanda group, with £10.4bn worth of property including One Nine Elms, part of London's Vauxhall South Bank regeneration program. Dalian Wanda also has interests in hotels and entertainment, acquiring US-based cinema operator AMC theatres for around $2.6bn (£1.6bn) in May 2012. They also bought the famous British yacht builders Sunseeker for $500m (£305m) in June of this year. Philip Beresford, who compiled the list for the Estates Gazette, said despite London prices appearing "insane," growth in the coming years is "sustainable." "The returns can be good and the government is very pro-business and business-friendly," he said. Second in the list is Henry Cheng Kar-Shun, of Hong Kong-based Knight Dragon, who has recently bought the Greenwich peninsula regeneration scheme for £186m. His UK property portfolio is worth £10.27bn. Swiss-based Reuben brothers, who have pushed the Duke of Westminster into fourth, are valued at £8.3bn. The UK's top 10 property magnates Name: Wang Jianlin Who: Chinese billionaire and chairman of the Dalian Wanda Group, one of China's largest real estate developers and the world's largest operator of movie theatres. Name: Henry Cheng Kar-Shun & family Who: Head of Knight Dragon, which last June agreed a £480m deal to kick-start a huge regeneration project on land surrounding in the O2 in Greenwich, London. Name: Reuben Brothers Who: Simon and David Reuben made billions in the aluminium trade, and made their fortunes in Russia during the turbulent early days of post-Soviet deregulation. Name: Duke of Westminster Who: The Duke's property company Grosvenor controls £12.5bn of property around the world. Name: Ernesto & Kirsty Bertarelli & family Who: Mr Bertarelli, a Swiss-Italian entrepreneur, made his fortune in pharmaceuticals, while his wife is a former Miss UK. Name: Petr Kellner Who: The Czech businessman is the wealthiest resident of the Czech Republic and owns luxury apartments in London and across the road, as well as an entire island resort in the British Virgin Islands. Name: Joseph Lau Who: Joseph Lau is a billionaire Hong Kong real estate investor, and reportedly owns one of the world's finest red wine collections with at least 10,000 bottles. Name: Frank Lowy & family Who: Frank Lowy is an Australian-Israeli businessman who is co-founder of the Westfield Group, which operates over 100 shopping centres across the world, including the Westfield Shopping Centre adjacent to the Olympic Park in Stratford, east London. Name: Sir Philip & Lady Green Who: CEO of the fashion conglomerate Arcadia Group, Sir Philip Green is one of the country's liveliest and most controversial businessmen. Name: Earl Cadogan & family Who: Earl Cadogan, an Old Etonian whose family's wealth is estimated at almost £3bn, has a 90-acre property portfolio of prime London real estate.