Buoyed by strong demand for new homes, the property development and investment sector is set to carry “stable” volume demand into 2021 despite the pandemic, says CGS-CIMB Research analyst Lock Mun Yee. 

Lock is maintaining “overweight” on the sector, highlighting preferred picks CapitaLand, City Developments and UOL Group. Lock recommends “add” on all three companies, with target prices $3.42 for CapitaLand, $10.10 for City Developments and $7.60 on UOL Group.