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CityDev kept at 'buy' by Deutsche with upcycle still in early stage

PC Lee
PC Lee6/6/2018 03:52 PM GMT+08  • 2 min read
CityDev kept at 'buy' by Deutsche with upcycle still in early stage
SINGAPORE (June 6): Deutsche Bank is keeping City Developments on “buy” as indicators for occupancy and rental turn positive and outlook for commercial properties continues to improve.
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SINGAPORE (June 6): Deutsche Bank is keeping City Developments on “buy” as indicators for occupancy and rental turn positive and outlook for commercial properties continues to improve.

Over the last three months, shares of CityDev have underperformed the Straits Times Index on concerns of the sustainability of the residential cycle, the possibility of policy reactions to an overheated market and a rising interest rate environment.

In a Wednesday report, analyst Joy Wang however believes the upswing in Singapore’s real estate sector is still in its early cycle.

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