International financial services group Credit Suisse has named Mapletree Commercial Trust and City Developments Limited (CDL) Hospitality Trust among its stock picks in the Singapore property sector, as the two companies are likely to be insulated from any slowdown in local gross domestic product (GDP) growth.
The firm feels the retail sector could be resilient and favours CapitaMall Trust, as its stock price may have “more than discounted policy risks”.
It also picked CDL and Overseas Union Enterprise (OUE) for their “prime office exposure”, “compelling valuations” and “hospitality”, as well as expected Suntec REIT and AREIT to underperform on slower growth concerns in the non-prime office and industrial space.
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