Keppel Land

Keppel Land: MS weighs in on freebies at Highline Residences at Tiong Bahru. 1st preview weekend saw 2k people showing up, while this weekend saw 100 visitors, largely Singaporeans in their 30s. Indicatively, more than 100 cheques for indicative interest have been collected. KepLand plans to launch sales this Saturday, Sep 13, and MS understands there will be no balloting. The project is within 400m of Tiong Bahru MRT, one stop east of Redhill where four projects comprising 1,500 units have been launched since Dec’12 (and another 650-unit project is due to launch next year). 700 units have yet to be taken up. Indicative pricing ~$2k/psf. MS has an Underweight call on Kep Land with TP of $3.05