
WhatwerecommendInouropinion,CRLand’sprojectpipelinewillunderpinsustainedrentalgrowthforthecompanyoverthenextfewyears.Moreover,wethinktheNanningMIXccasealsoillustratesthathavingapremiermallwouldhelpittoachievepremiumpricingforitsresidentialcomponent(itsachievedASPofoverCNY20,000/sqmin2013wasarecordforNanning).WereiterateourBuy(1)ratingonCRLandwithanew6-monthtargetpriceofHKD...