CapitaLand's D'Leedon mega project presales surged five-fold

It is now 65% sold.

Accoridng to Barclays, CAPL sold 352 units in 4Q12 alone (+400% q/q), mainly from d’Leedon on its incentive schemes, more than the 329 units in 9M12, which brings FY12 tally to 681 units (S$1.3bn), albeit still lower than the 844 units (S$1.35bn) in FY11.

Expect TOP for Urban Suites (100% sold), Urban Resort (42% sold) and Interlace (71% sold) in 2013.

"The risk of the 1,715-unit mega project D’Leedon is now significantly reduced with 65% sold, while Sky Habitat still lags with just 29% of 509 units sold as of end-Jan. Mgmt is likely to continue with incentive schemes to stimulate sales, and still has a healthy pipeline of 2,800 units (4.1mn sqft GFA), with new potential launches of Marine Point and Bishan Street 14 (next to Sky Habitat)," Barclays said.