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UOL
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Resilient high-end residential market
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Nostradamus
Supreme |
27-Sep-2006 11:16
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DBSV says it has raised its rating to "buy" from "hold" and raised its target price to $3.74 in view of the improving outlook for the property developer. "We expect UOL to benefit from the upbeat trend of the hotel industry and strong demand for office and retail space," DBSV said in a note to clients. "The outlook for the Singapore residential property market remains positive and the high-end residential segment continues to drive growth. We expect prices of high-end residential properties to continue to rise," it said. Office rents are rising because of tightening supply, and the hotel sector is set to benefit from the increase in the number of visitors coming here for meetings, incentives, conventions and exhibitions, DBSV said. |
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singaporegal
Supreme |
31-Aug-2006 20:50
Yells: "Female TA nut" |
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This one is on a sharp uptrend now! Check out its RSI, Acc/Dist and Bollinger. All very bullish. However, its also overbought now (Williams %R). |
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Nostradamus
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31-Aug-2006 12:37
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CIMB says it has raised its target price for UOL to $3.72 after its joint venture with Kheng Leong bought Nassim Park here for $380m. "We estimate a break-even cost of $1,593 psf for this project. Assuming a decent pretax margin of around 20%, this project could sell for close to $2,000 psf on average, given its prime location and the relatively resilient high-end residential market," CIMB said in a note to clients. It noted that the average asking price for space in St Regis, a nearby development by City Developments, was $2,700 psf. The land area of Nassim Park is 245,135 square feet. The freehold property will be redeveloped by Park Developments, 70% of which will be owned by UOL and 30% by Kheng Leong unit Russell Pte Ltd. At a plot ratio of 1.4 to one, the developers can build a maximum gross floor area of 343,189 square feet, UOL said. |
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