Broker Name: CGS International
Date of Report: November 18, 2025
Excerpt from CGS International report.
Report Summary
- City Developments (CIT) maintained stable net gearing at 0.69x as of end-3Q25, with resilient core operations and strong residential sales in Singapore. The company continues to focus on land replenishment, robust occupancy rates in investment properties, and disciplined financial management.
- The report reiterates an “Add” rating with a target price of S\$8.97, citing improved earnings visibility, inexpensive valuation at 0.71x FY25F P/BV, and potential re-rating catalysts such as interest rate declines, asset recycling, and special dividends. CIT also stands out for its strong ESG achievements and sustainability initiatives.
Above is an excerpt from a report by CGS International. Clients of CGS International can be the first to access the full report from the CGS International website: https://www.cgsi.com
