CityDev's share price hit by surprise property policy

It has the largest inventory of about 2,000 units for launching from H2 2018 to 2019.

The stock price of City Developments (CityDev) could go down amidst uncertainty in the next quarters caused by the surprise property policy of the government, DBS Equity Research said.

The developer has the largest inventory of new units left to be launched. DBS analysts Rachel Tan and Derek Tan think that CityDev could postpone their launches for South Beach Residences, West Coast Vale, and the former Boulevard Hotel site to ride out the property frenzy.

CityDev has about 2,000 residential units in the pipeline for launching from H2 2018 to 2019.

“In addition, margins of units from the landbank acquired in late 2017 to 2018 could be impacted given that the ability to raise property prices could now be limited following a turn in sentiment,” the DBS analysts said.

Despite this, the analyst think that CityDev could root on the strong property sales and the successful launch of its fund management platform.

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia