CapitaLand seen to strengthen sales in 4Q13

China residential projects to lead the charge.

According to Maybank, CapitaLand will post a stronger 4Q performance after a decent 3Q showing as a number of its residential projects in China becomes completed.

The research firm noted that CapitaLand sold 707 homes in China valued at CNY1b in 3Q13, taking 9M13 sales to 2,398 units (+21% YoY) worth CNY4.2b (+1% YoY). The average sell-through rate came in at a "healthy 78% and CapitaLand could possibly launch another ~650 units in 4Q13."

CapitaLand will also be handing over some 1,800 completed units in 4Q13 from projects such as Beaufort in Beijing, which will underpin stronger profits in 4Q13, Maybank added.

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