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Hongkong Land gets a ‘buy’ as Central office portfolio stays in good shape

PC Lee
PC Lee11/10/2017 04:00 PM GMT+08  • 2 min read
Hongkong Land gets a ‘buy’ as Central office portfolio stays in good shape
SINGAPORE (Nov 10): DBS says Hongkong Land, trading at 38% discount to its assessed current NAV, is inexpensive from a historical perspective.
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SINGAPORE (Nov 10): DBS says Hongkong Land, trading at 38% discount to its assessed current NAV, is inexpensive from a historical perspective.

In addition, tight vacancy and solid demand continues to support office rents which, coupled with yield compression, have boosted office prices further.

“These factors should warrant a higher stock valuation for Hongkong Land,” says analyst Jeff Yau, who is calling a “buy” with US$8.93 ($12.15), based on 30% discount to DBS’ June 2018 NAV estimates.

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