PROPERTY and hotel group City Developments Ltd (CDL) is traditionally viewed as a good proxy for the Singapore residential market. This has been positive for its shares and its reputation because of strong sales volumes and a price run-up for mass-market private homes in the past few years.
But with the government determined to prevent overheating in the housing sector - with new rules governing property loans in addition to a host of cooling measures rolled out in the past few years - and oversupply widely expected to kick in from next year, the company has been looking to alternatives. The $64,000 question is: can CDL adapt and deliver fast enough?
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