Centurion Corporation Limited (“Centurion” or the “Group”), is one of Singapore’s largest owner-operator of quality workers accommodation assets in Singapore and Malaysia. In addition, the Group also owns and operates student accommodation assets in Singapore, Australia and the United Kingdom (“UK”).
Its workers accommodation assets are managed under the Westlite brand and its student accommodation assets are managed under the dwell brand.
The Group was listed on the main board of the Singapore Exchange in 1995 and following a reverse acquisition exercise in 2011, the Group successfully diversified into the accommodation business to capture growth opportunities in this niche market.
Starting with a single accommodation asset of c.5,300 worker beds in 2011, Centurion has over the last five years developed a strong portfolio of 21 operational workers and student accommodation assets totalling c.61,608 beds as at 30 June 2017.
In Singapore, the Group had a capacity of c.34,700 beds across five workers accommodation assets in Toh Guan, Tuas, Mandai, Woodlands, and Jalan Papan as at 30 June 2017.
In Malaysia, the Group had a capacity of c.23,700 beds across six workers accommodation assets in Johor as at 30 June 2017. Westlite Bukit Minyak, with c.6,600 beds (under construction), and Westlite Juru, with c.6,100 beds (under planning) are both expected to be completed in 2018.
As at 30 June 2017, the Group owns RMIT Village, a student accommodation asset with 456 beds in Melbourne, Australia. dwell Adelaide, a 280-bed student accommodation is under development and expected to be completed in the fourth quarter of 2018. In addition, the Group owns a portfolio of eight student accommodation assets with a total of 2,420 beds in the United Kingdom and a 332-bed student accommodation asset in Singapore within the Selegie educational hub. Except for RMIT Village, all the other student accommodation assets are managed under the dwell brand.
The Group expects to increase its overall portfolio of workers and student accommodation assets from c.61,608 beds as at 30 June 2017 to c.66,148 beds by the end of 2018.
With a clear growth strategy to actively enhance and manage its assets, identify strategic acquisitions and joint ventures, as well as develop customised accommodation management services, Centurion is well positioned to become one of the region’s leading providers of quality accommodation.