CapitaLand and City Developments (CDL) are DBS Group Research's top picks among property developers, despite the headwinds caused by the novel coronavirus (Covid-19) pandemic.

This is because their attractive valuations are making them too cheap to ignore, according to the brokerage.

DBS believes that most negatives are priced in at an average price to net asset value of 0.6 time, which is close to levels back in the global financial crisis (GFC).

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