Singapore Industry Focus Singapore Property Refer to important disclosures at the end of this report DBS Group Research . Equity 19 Feb 2019 STI : 3,265.97 “Godzilla II” is here Analyst • The 1,410-unit Florence Residences by Logan Property Rachel TAN +65 6682 3713 reportedly drew some 4k viewers
[email protected] • Indicative ASP is from S$1,400psf vs new launches Derek TAN +65 6682 3716 nearby in 2018 at S$1,500psf to S$1650psf
[email protected] • Interest from upgraders and investors in the vicinity • Conversion of interest to actual purchase is key 1,410-unit Florence Residences launched for viewing. STOCKS Property launches resumed after the CNY holidays, starting 12-mth with one of the gigantic developments slated for launch this Price Mkt Cap Target Price Performance (%) year. The 1,410-unit Florence Residences by Logan Property S$ US$m S$ 3 mth 12 mth Rating opened its doors for a preview over the weekend, which CapitaLand 3.34 10,248 3.62 6.4 (6.4) BUY reportedly drew some 4000 viewers, according to EdgeProp, City Developments 9.49 6,344 9.50 13.7 (25.4) HOLD and viewers had to queue to enter the mock-up units. The UOL Group 6.65 4,131 7.15 7.8 (20.3) HOLD Frasers Property 1.70 3,650 1.98 4.3 (13.7) BUY project is expected to open for ballot / sale on 2 March 2019. LtdRoxy -Pacific 0.41 394 0.39 6.5 (19.5) HOLD ChipHoldings Eng Seng 0.70 323 0.75 (2.8) (26.7) HOLD Florence Residences is located between Kovan MRT and Hougang Interchange MRT stations (an interchange for the Source: DBS Bank, Bloomberg Finance L.P.