City Developments: (S$8.12) Seeking out opportunistic buys with a $1.8b cash kitty
- looking to take advantage of the current price discounts in listed real estate companies
- developed a liking to residential sites, offices and hotels in London as well as luxury residential projects and hotels in Japan
- continues to be one of the best stories in the sector with the recent price consolidation presenting a good buying opportunity
- Maybank KE maintains Buy with TP of $9.82. Counter currently trading at 0.68x P/RNAV
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