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Conservative land banking, supportive valuation keep Wing Tai at 'buy'

PC Lee
PC Lee7/24/2018 12:59 PM GMT+08  • 2 min read
Conservative land banking, supportive valuation keep Wing Tai at 'buy'
SINGAPORE (July 24): While the recent cooling measures should further slow down project sales for Wing Tai, the property group has been prudent, winning only a single land parcel in the current cycle.
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SINGAPORE (July 24): While the recent cooling measures should further slow down project sales for Wing Tai, the property group has been prudent, winning only a single land parcel in the current cycle.

In the current en bloc cycle, Wing Tai, along with its JV partner, won a land parcel in Serangoon North Ave 1, for $965 psf ppr last July.

Although the bid was higher than implied land cost compared to other en blocs in the vicinity, this was the only land parcel won during the cycle which limits Wing Tai’s exposure to any potential slowdown from recent cooling measures.

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