CityDev

CityDev kept at 'buy' amid record full-year revenue
SINGAPORE (Feb 21): Jefferies Singapore is keeping its “buy” recommendation on City Developments with a target price of $12.00, after the property developer beat revenue expectations for FY18. “Full year revenue grew 10% and came in ahead of consensus estimates driven mainly by property development,” says analyst Krishna Guha in a flash note on Wednesday. CityDev saw its revenue ...
CityDev downgraded as tables turn on exposure to Singapore residential market
SINGAPORE (July 9): OCBC Investment Research is downgrading City Developments to “hold”, from “buy” previously, and slashing its fair value estimate by nearly 40% to $9.59. This comes hot on the heels of surprise property cooling measures which were slapped on the Singapore residential market last week. The government pushed through a 5 percentage point increase in stamp duty for ...
Exec condos in the limelight as CityDev JV outguns rivals with $509 mil bid for Punggol EC site
SINGAPORE (Feb 28): DBS Group Research believes property developers are bullish on land-banking in executive condominium (EC) sites in Singapore due to limited supply in the near term. This comes after a joint venture between City Developments (CDL) and TID Residential came up tops in the latest government land tender with a $590.4 million bid for the 820-unit EC site at Sumang Walk in ...
Buy these quality stocks on dips as the 'Great Singapore Sale' continues, says OCBC
SINGAPORE (Feb 7): With the latest surge in market volatility and resultant sell-offs, OCBC Investment Research is now declaring it the “Great Singapore Sale” for SGX-listed stocks upon viewing the current correction as a good opportunity to re-enter the market. “While risks of further weakness remain for the near term, there are still positive drivers for equities, and supported by ...
New condo at Amber Park site expected to be value-accretive for CityDev
SINGAPORE (Oct 5): CIMB says the new condo at the Amber Park site could add 5 cents to City Developments’ RNAV if the estimated selling price hits $2,200 psf. CDL and Hong Realty, the private real estate arm of the Hong Leong Group, on Wednesday announced it had won the Amber Park en bloc tender which attracted eight submissions. See: City Developments and JV partner acquire Amber Park ...
ST Engineering, Wilmar, ThaiBev, CityDev, Haw Par, Wing Tai
SINGAPORE (May 12): Here are some stocks to watch this Friday morning: ST Engineering announced 1Q17 earnings of $103.4 mil, 6% lower from $110.2 million reported in the previous year. Group revenue for the quarter was $1.5 billion, 5% down from $1.6 billion. See: ST Engineering posts 6% decline in 1Q earnings to $103 mil Agribusiness Wilmar International reported a 51% rise in 1Q ...
CityDev subsidiary acquires Shanghai commercial project for $186 mil
SINGAPORE (Feb 14): CDL China, a wholly-owned subsidiary of City Developments Limited (CDL), is acquiring a prime Shanghai commercial project, Meidao Business Plaza for RMB 900 million ($186 million) through the purchase of a 100% equity stake in Shanghai Meidao Investment Co. Shanghai Meidao owns Meidao Business Plaza, a commercial development within the Hongqiao central business district ...
Sabana REIT, CityDev, Global Premium Hotels, Ezra, Tritech, King Wan, China Star Food, Addvalue
SINGAPORE (Feb 3): Here are some stocks that could move the market this Friday morning. Vibrant Group and Sabana Real Estate Investment Management, as sponsor and manager of Sabana REIT respectively, have announced that they are undertaking a strategic review of Sabana REIT. The scope of the review includes the current shareholding structure and management of the manager, as well as Sabana ...
CityDev, ST Engineering, Singapore Myanmar Investco, Sembcorp, ABR, Ley Choon
SINGAPORE (Jan 19): Here are some stocks that could move the market this Thursday morning: City Developments Limited (CDL) has signed an agreement to invest RMB 72 million ($14.8 million) for a 24% stake in Distrii, a leading operator of co-working spaces in China. In Singapore, Distrii will lease more than 60,000 sf of space at CDL-owned Republic Plaza Tower 1. Shares of CityDev closed 5 cent ...
Which developer stands to benefit from improving residential property sentiment?
SINGAPORE (Dec 8): The resurgence in volume growth and residential sentiment in the recent quarters is leading Credit Suisse to believe that these are an important first step towards a sustainable recovery in Singapore’s property sector. Lead analyst Louis Chua believes that the market is now beyond peak supply, with 2017 supply tapering to 13,284 units, in line with historical ...