CapitaLand sold 10x more homes in 1Q13 than last year

2 housing projects targeted to launch in 2H13.

According to MayBank analyst Wilson Liew, Singapore's largest residential developer based on market cap, CapitaLand has sold 544 homes in Singapore from January to March this year, mainly from units at d'Leedon.Out of 544 units, d’Leedon accounted for 481 units.

CapitaLand's sale accounted for ~10% of market share in the primary market and almost 10x the number of homes it sold in 1Q12.

Liew said that CapitaLand is targeting to launch the 124-unit freehold project at Marine Point and the new 694-unit project adjacent to Sky Habitat in Bishan in 2H13.

Excluding portfolio and revaluation gains, CapitaLand’s 1Q13 operating PATMI came in largely within expectations at SGD133.3m (+20% YoY, +70% QoQ).