Attractive ValuationCity Developments is trading at an attractive valuation at 0.6x P/NAV, below the low seen during the global financial crisis, suggesting a good long-term buy.
Strategic ExpansionReplenishing the residential landbank in Shanghai for long-term growth by acquiring a mixed-use development site in Shanghai's core and mature Xintiandi area.
Strong Sales PerformanceStrong sell-through rate for new launches—Kassia, launched in July, and Norwood Grand, launched in October, have sold 65% and 84% of units, respectively.