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Keppel's property segment to ride the residential market upturn
Outlook for property markets in Asia remains positive in the long-term.
Keppel Corporation is well-positioned to ride the property upturn, driven by the general positive long-term outlook for Asia's property markets.
According to OCBC Investment Research, Keppel’s core markets are Singapore, China, as well as Vietnam and Indonesia. It also has a foothold in Myanmar.
The brokerage firm said despite the property cooling measures in selected cities in China, the group sold over 3,800 units and handed over some 3,480 units in 2016. "Sales in China contributed to about 65% of the total 5,720 residential units that Keppel Land sold in 2016," it said.
Meanwhile, Keppel sold 380 units during the said year in Singapore, double the 190 units in 2015.
"With its landbank of 1.3m sq ft in prime locations, Keppel is well-positioned to ride on a recovery in the residential market when it occurs. Keppel’s residential landbank in Singapore and overseas total 8.4m sqm of GFA, translating to a pipeline of about 66,000 homes, mostly in China and Vietnam," OCBC Investment Research noted.
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