Singapore, Jan 21, 2026, 15:19 SGT — Regular session
- Shares of City Developments rose 0.7% in afternoon trading, closing in on a 52-week high
- RHB and DBS highlighted asset sales and the launch of Newport Residences as potential near-term catalysts
- Investors are focused on bookings for Jan 31 and the FY2025 results scheduled for Feb 27
Shares of City Developments Limited nudged up Wednesday, lingering close to a 52-week peak after broker notes flagged a luxury launch and asset sales as potential catalysts soon. The stock rose 0.66% to S$9.16 by 3:08 p.m., trading in a range between S$9.03 and S$9.22 during the session, per SGX data gathered by SGinvestors.io. (Sginvestors)
Timing is crucial for the sector. Singapore property stocks are once again reacting to interest rate shifts, as falling local borrowing costs boost affordability and spark greater risk appetite for developers carrying leverage on their balance sheets.
Valuation is another key factor. Broker reports from the last two days have focused on revalued net asset value, or RNAV — a metric analysts rely on to gauge what a developer’s assets would fetch when adjusted to current market levels. The idea is straightforward: sell units, recycle capital, and narrow the discount.
City Developments climbed, despite the FTSE Straits Times Index slipping roughly 0.4% in afternoon trading. (Investing)
Vijay Natarajan, analyst at RHB Bank Singapore, flagged growing momentum in Singapore real estate stocks, pointing to lower interest rates and pent-up demand. He maintained an overweight rating on the sector, highlighting City Developments as a top pick. Natarajan noted the stock is “still trading at a hefty more than 40% discount” to his RNAV estimate. (The Edge Singapore)
Natarajan highlighted City Developments’ quicker asset sales, totaling around S$2 billion last year, as a strategy to tackle worries about debt and boost returns for shareholders.
On the macro front, he pointed to more affordable mortgage deals, with banks now offering fixed-rate home loans in the 1.55% to 1.6% range following a sharp drop in Singapore’s benchmark SORA (Singapore Overnight Rate Average) last year. That report also estimated the 2026 launch pipeline at roughly 12,000 new private units across 24 projects, including executive condominiums.
DBS Group Research flagged the launch of Newport Residences as a potential boost for City Developments’ shares. They forecast margins topping 20% and a 3% to 4% gain in RNAV. The bank expects pricing just above S$3,000 per square foot (psf), adding that “a 30–40% sell-through rate at launch would be very healthy.” DBS stuck with its buy rating and S$11.80 target. (The Edge Singapore)
City Developments announced that sales bookings for the 246-unit Newport Residences will open on Jan 31, following previews that started on Jan 16. Prices kick off at S$1.298 million for a one-bedroom unit. Group CEO Sherman Kwek said “the time is right” to launch the project, citing strong demand in recent prime-area developments. (CDL)
The upside isn’t straightforward. Demand for prime-city units can shift quickly with changes in policy and interest rates. Brokers also point to the 60% additional buyer’s stamp duty (ABSD) — a property purchase tax — as a continuing obstacle for foreign buyers targeting the high-end market.
Attention will turn to take-up as Newport bookings open on Jan 31. City Developments plans to unveil unaudited FY2025 results before the Feb 27 session, with a briefing set for that morning, according to an SGX filing. (SGX)
