Can OUE provide investors safe haven amid Singapore’s gloomy property market?

It’s trading 63% discount to book value.

It’s time to rethink current share prices for OUE Limited (OUE), as analysts believe OUE is a relatively safe haven despite the headwinds it’s facing in the flagging property market.

According to a report by OCBC, the group’s shares offer an alluring risk-reward at current levels, as it’s now trading 63% discount to book value, and above 8.5% above its 12-month low of $1.47.

The group’s recent thrusts to market its OUE Twin Peaks project has enjoyed significant success—over 265 units sold out of 462 total units at an average selling price above $2,500 psf. Moreover, OCBC asserted that this greatly slash the risk in the group’s asset valuations.

Looking ahead, sales at Twin Peaks is expected to continue into the latter half of the year. OCBC predicted that OUE can also look forward to the completion of asset enhancement works at OUE Downtown, which is on track to be completed by end-2016.