Redevelopment of Golden Shoe keeps CapitaLand Commercial Trust at 'buy'

SINGAPORE (July 13): Maybank Kim Eng continues to keep its “buy” rating on CapitaLand Commercial Trust (CCT) with a target price of $1.81 as the redevelopment of Golden Shoe Carpark should position the group for a rebound in Singapore’s office market in 2021.

Golden Shoe Carpark is set to be redeveloped into an integrated development which includes offices, ancillary retail space, serviced apartments and a food centre to cater to the CBD lunch crowd.