Singapore developers

Three-year en bloc cycle in the making, says JPMorgan

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.

CDL, UOL and CapitaLand top picks as CIMB keeps ‘overweight’ call on property sector

Singapore properties

SINGAPORE (June 16): CIMB is maintaining its “overweight” call on the property sector on the back of an upsurge of sales in May, with "buy" calls and target prices of $10.32 for City Developments (CDL), $8.26 for UOL Group and $4.07 for CapitaLand.

A total of 1,388 units were transacted (1,056 excluding Executive Condos) in the month of May. Excluding ECs, this represented a 41% spike in transactions on a month-on-month basis, or 66% if calculated on a year-on-year basis.

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