- Strong residential property sales momentum to continue, driving revenue CAGR of 19% from FY21-23F
- Beneficiary of office upcycle on flight to quality trend; further upside to earnings from revaluation of Guoco Midtown
- GuocoLand's valuations undemanding at P/NAV of 0.40x, ~1.5 standard deviation below the 5-year mean of 0.52x, with decent 3.9% yield
- - Read this at SGinvestors.io -
A play into future-ready living.
- GuocoLand (SGX:F17)’s development projects located in Singapore, Malaysia and China are built to accommodate the rising expectations of comfort and convenience. We expect positive sales momentum to continue, catering to both local and foreign demand, driving revenue CAGR of 19% from FY21-23F for this segment that contributed 84% to FY21 revenue.
Beneficiary of office upcycle.
- - Read this at SGinvestors.io -
- There is potential upside to our earnings from the revaluation of Guoco Midtown that we have yet to factor in.
Potential restructuring to crystallise value?
- Read more at SGinvestors.io.
Above is the excerpt from report by DBS Group Research.
Clients of DBS may access the full report in PDF @ https://www.dbs.com/insightsdirect/.
Singapore Research DBS Group Research | Derek TAN DBS Research | Rachel TAN DBS Research | https://www.dbs.com/insightsdirect/ 2022-04-05
Read also DBS's most recent report:
2023-09-07 Guocoland - The Best Is Yet To Come.
Previous report by DBS:
2022-09-02 GuocoLand - Exciting Times Ahead On Both Property Development & Investment Fronts.
Price targets by other brokers at GuocoLand Target Prices.
Listing of research reports at GuocoLand Analyst Reports.
Relevant links:
GuocoLand Share Price History,
GuocoLand Announcements,
GuocoLand Dividends & Corporate Actions,
GuocoLand News Articles
