“Aided by strong Singapore residential market tailwinds and lower interest rates, we believe CDL is poised to deliver healthy shareholder returns in 2026,” he adds.
City Developments’ (CDL) share price has gained around two-thirds in the past 12 months, making it one of the top-performing large caps in 2025. If analysts are right, the property and hospitality giant has more room to go.
Citing the faster pace of asset monetisation, which reached approximately $2 billion in 2025, Vijay Natarajan of RHB Bank Singapore has become more optimistic on CDL, raising his target price to $9.50 from $8.50. “This, we believe, is the right strategy that addresses market concerns of high debt load and sub-par return on equity [ROE],” states Natarajan in his Jan 5 note.
