This equates to an estimated gross development value (GDV) of $2.5 billion ($9.54 per share), providing multi-year income visibility.
DBS Group Research (DBS) analysts Tabitha Foo and Derek Tan see one of Singapore’s longest-standing residential developers, Bukit Sembawang Estates, as a “potential dividend powerhouse”.
In their Nov 28 un-rated report, the DBS analysts see the company’s core engine lies with the property development segment, underpinned by a substantial landbank of more than 1.5 million sq ft, which could be progressively redeveloped into landed homes.
