CapitaLand/CMA

CapitaLand/CMA unlikely to get material impact from news their joint $789m tender for Bedok Town Centre site has been accepted by the HDB. The 24,902 sqm site can be developed into residential-cum-retail property with potential GFA of 81,158 sqm. Total investment cost could amount to $1.2bn with project potentially yielding 8% return. Acqn expected to be financed by internal funds & borrowings.