“As a result of its early decision to accumulate landbank in Singapore in FY17, after years of diversifying overseas, Oxley has accumulated the largest residential landbank among the listed property stocks in Singapore with 2,833 units and GDV of $3.03 billion,” says Pandey.
SINGAPORE (Oct 3): UOB KayHian is restarting coverage of Oxley Holdings with a “buy” and target price of 67 cents, pegged at a 20% discount to its RNAV of 84 cents/share.
In a Tuesday report, analyst Vikrant Pandey says the developer is poised to benefit from the Singapore property upcycle, as it has the largest residential landbank among the listed property stocks in Singapore.
