City Developments 01 (May 09 - Oct 16)

Re: City Developments 01 (May 09 - Dec 16)

Postby behappyalways » Fri Oct 21, 2016 4:48 pm

City Developments Exits Singapore Condos to Raise S$978 Million
http://www.bloomberg.com/news/articles/ ... 78-million
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Re: City Developments 01 (May 09 - Dec 16)

Postby winston » Mon Oct 24, 2016 10:47 am

not vested

Delayed gratifications in Core Central Region properties


3rd Tranche of PPS involving Nouvel 18 unlocked value for shareholders, avoided impending QC charges and grew fund management business

Strong take up of newly launched Forest Woods condominium suggests homebuyers continue to favour smaller-sized units

South Beach is on track to be fully completed by 4Q16; office and retail space largely leased

Initiating coverage with “ACCUMULATE” rating and target price of S$9.98

We favour CDL for its exposure to CCR inventory and strong balance sheet, and we believe that the market has overly discounted the developer. This is on top of the fact that CDL holds its investment properties based on historical cost.

With the successful launch of 3rd tranche of PPS, CDL does not face any impending Qualifying Certificate (QC) charges or claw back of Additional Buyer’s Stamp Duty (ABSD) remission until September 2017.

Source: Phillips

http://internetfileserver.phillip.com.s ... 161024.pdf
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