City Developments - RHB Research 2026-01-05: Winds Of Change; BUY

• City Developments (SGX:C09) has been accelerating the pace of its asset divestments (which totalled ~S$2bn last year). This, we believe, is the right strategy that addresses market concerns of high debt load and sub-par ROE.
• - Read this at SGinvestors.io -

Renewed focus on asset divestments at healthy premiums over book value.

• Recent non-core divestments include Quayside Isle @ Sentosa Cove (47% premium over book value), Hotel Osaka Shinsaibashi (65% premium over the 2023 acquisition price), multi-family assets and two non-core hotels in the US. All in all, City Developments has announced eight asset sales in 2025 at a total sales value of ~S$2bn, about thrice the value of its 2024 asset divestments of ~S$600m.
• - Read this at SGinvestors.io -

Strong Singapore residential property sales momentum to continue.

• Read more at SGinvestors.io.

Above is an excerpt from a report by RHB Securities Research.
Clients of RHB may be the first to access the full PDF report @ https://www.rhbtradesmart.com/.

Previous report by RHB:
2025-11-19 City Developments - Riding On Singapore Market Recovery; Upgrade To BUY.

Price targets by other brokers at City Developments Target Prices.

Listing of research reports at City Developments Analyst Reports.

Relevant links:
City Developments Share Price History,
City Developments Announcements,
City Developments Dividend Payout Dates & Corporate Actions,
City Developments News