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CityDev kept at 'buy' on bonanza of upcoming launches, healthy landbank

PC Lee
PC Lee5/15/2018 11:49 AM GMT+08  • 3 min read
CityDev kept at 'buy' on bonanza of upcoming launches, healthy landbank
SINGAPORE (May 15): OCBC Investment Research and Phillip Capital are maintaining their respective “buy” and “accumulate” calls on City Developments.
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SINGAPORE (May 15): OCBC Investment Research and Phillip Capital are maintaining their respective “buy” and “accumulate” calls on City Developments.

OCBC says CDL continues to be its top pick in the property sector, as the group looks poised to benefit from the firm uplift in the Singapore residential market where it has the largest land bank.

During 1Q18, CDL together with its JV associates sold 459 units in Singapore with an aggregate GFA of 415,892 sf and combined sales value of $792.6 million.

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