Property: DBSV says Spore commercial property deals are back in the market again with possible sales of 2 prime commercial properties in Somerset/Orchard Road worth > $2b in the next few months. Notes TripleOne Somerset has been put up for sale with a $1.2b indicative price, while there is talk Lend Lease could sell completely or a stake in its 313@Somerset mall...
Says the 2 properties, especially 313@Somerset (if for sale), should attract keen competition given limited supply in that area. Also, if the transactions materialize, it would indicate investors' optimism towards these sectors and further reinforce the view that the capital values will continue their upward trend this year, and lift nearby properties' valuation...
DBSV continues to like stocks with diversified exposure; its top picks include UOL (Buy, TP $5.49), Keppel Land (Buy, TP $5.10), Capitaland (Buy, TP $4.61). Adds, Starhill Global Reit could also be a beneficiary
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