That said, the analyst adds that with the Singapore government’s efforts in ramping up land supply, new launches can be expected in the next two years.
RHB Bank Singapore analyst Vijay Natarajan has maintained his “neutral” call on APAC Realty (SGX:CLN
) while lowering his target price from 44 cents to 42 cents following weaker transaction volumes due to a slowdown in new launches in 2024.
With new home sales forming the company’s high-margin segment and key contributor to earnings, Natarajan notes that a drop in new launches “is expected to hit APAC Realty’s bottomline”.
