SINGAPORE (Oct 6): JPMorgan is keeping its positive view of Singapore developers on valuations, the multi-year residential upcycle and RNAV-accretive land acquisitions.
Year to date, collective en bloc sales have quadrupled y-o-y to $5.2 billion across 25 deals with an 85% success rate. This provides clear evidence of another en bloc cycle in the making, which traditionally lasts at least three years, like in 2005-07 and 2010-12.
JPMorgan expects at least 80 more projects in the pipeline, after combining projects in varying parts of the en bloc process and previous failures.
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