CDL can rise above interest hikes: analyst

Its development portfolio makes it "well-positioned."

With its strong development portfolio, RHB said City Developments Limited (CDL) is well-positioned in the industry despite interest rate hikes.

CDL's portfolio is shielding it in macroeconomic risks expected in 2023. One notable development is the launch of the Copen Grand executive condominium (EC) which sold out since its launch in October.

It also won another project at Bukit Batok West Avenue 5 in September, which is seen to get strong demand as the EC segment is less affected by cooling measures and interest rates.

"It also has four residential projects (>1,000 units), which are expected to be gradually rolled out in 2023-2024," said RHB, commenting on CDL's portfolio.

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