Increasing residential land supply
■ New residential units from the Confirmed List in the government land sales
(GLS) programme increased to 2,000 units for 2H21.
■ The increase in residential supply is likely to enable developers to replenish
their land banks, while easing the momentum on price trajectory.
■ Reiterate sector Overweight on valuations. Preferred picks: UOL, CIT, CAPL.