CapitaLand's home sales value in Singapore hit $281m

It sold 102 units in Q2.

CapitaLand is cautiously optimistic in the Singapore's residential market.

According to RHB analyst Vijay Natarajan, the group sold 102 residential units for $281m. This is an improvement from last year's $210m sales value.

Currently, its unsold residential inventory in Singapore, worth around $1b, accounts for only about 2% of total assets.

"Management said that it will continue to remain disciplined in residential acquisitions in Singapore and seek well-located sites. It noted that residential market signals remain mixed and expects cooling measures to still weigh on its outlook," the analyst said.

For the said quarter, the key projects that accounted for sales include Victoria Park Villas and Sky Habitat.