CITY DEVELOPMENTS LIMITED
C09.SI
City Developments Limited (CIT SP) - Acquisition of site in Southwest London
- City Developments Limited (CIT SP) announced its acquisition of a brewery site in Southwest London for a sum of GBP158m (SGD335m).
- The 89,000sqm land parcel purchased from AB InBev, is located beside River Thames, and is a 25-minute journey by train to Central London.
- The site may be used for a mixed use scheme, including a major residential development, school, hotel and other employment and leisure uses.
- We like the fact that CDL is driving its efforts to further diversify its portfolio overseas.
- We maintain BUY recommendation, with a TP of SGD8.75.
Ivan Looi
RHB Research
|
Ong Kian Lin
RHB Research
|
http://www.rhbinvest.com.sg/
2015-11-27
RHB Research
SGX Stock
Analyst Report
8.75
Same
8.75
