Equity Analysis /
Singapore

SG : CapitaLand Integrated Commercial - Buying a 70% stake in 79 Robinson Road

    Karmei Eing
    Munyee Lock
    Munyee Lock

    Head of Regional Property

    CGS-CIMB
    29 March 2022
    Published by

    CICT is set to acquire a 70% stake in 79RR for a total outlay of S$869.2m. It is an accretive acquisition, with room to boost yield through higher occupancy and rents, in our view. Reiterate Add rating with an unchanged DDM-based TP of S$2.57.