Staying “overweight” on the sector, Natarajan’s top picks are City Developments (CDL) and co-living operator Coliwoo Holdings, which listed last November.
Momentum is building up among Singapore’s real estate stocks, with residential developers doing brisk sales thanks to healthy wage growth, lower interest rates and pent-up demand, says RHB Bank Singapore analyst Vijay Natarajan.
This rally is expected to continue amid positive fundamentals, he adds in a Jan 20 research note, which should narrow “still-high” trading discounts to revalued net asset value (RNAV), which exceed 40%.
