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Should CCT enter a JV for its Golden Shoe Car Park project?
It could dodge high capital outlay if it does enter a deal.
As CapitaLand Commercial Trust expects the redevelopment of Golden Shoe Car Park to commence by August this year, RHB Research noted that it could use some hand from Mitsubishi Asia to reduce development risks.
"We expect a JV structure with CapitaLand and Mitsubishi Asia (similar to the Market Street Car Park redevelopment) to avoid high capital outlay and mitigate development risks," RHB said.
In terms of funding, RHB noted that CCT is currently exploring capital recycling options. It has tapped Cushman & Wakefield to conduct an Expression of Interest exercise for sale of Wilkie Edge.
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