Centurion Corporation Limited (“Centurion” or the “Company” and together with its subsidiaries, the “Group”) owns, develops and manages quality, specialised accommodation assets globally, including purpose-built workers accommodation assets in Singapore and Malaysia, and purpose-built student accommodation assets in Singapore, Australia, the United Kingdom (“UK”), the United States (“US”) and South Korea.
Established in 1984 as an audio cassette tape manufacturer, the Company was listed on the Singapore Exchange (SGX: OU8) in January 1995 as an optical disc manufacturer. In 2011, a reverse takeover saw the Group successfully re-focusing into the specialised accommodation business to capture growth opportunities in this niche market. In December 2017, Centurion completed a dual primary listing on the Main Board of The Hong Kong Stock Exchange Limited (SEHK: 6090).
As at 31 December 2019, the Group owns and manages a strong portfolio of 33 operational accommodation assets totalling 65,133 beds. Following the completion of projects currently under development and undergoing asset enhancement works, the Group’s portfolio of accommodation assets is expected to grow to 68,733 beds by FY2020.
Centurion’s established portfolio of workers accommodation assets is managed under the “Westlite” brand. The Group owns a portfolio of 28,000 beds across five workers accommodation assets in Singapore and 30,700 beds across seven workers accommodation assets in Malaysia.
The Group successfully expanded into the student accommodation business in 2014. Centurion currently owns a portfolio of 11 assets in the UK with a total capacity of 2,852 beds, a 332-bed asset in Singapore, two assets in Australia with 896 bed spaces and one 208-bed asset in South Korea. With the exception of RMIT Village in Melbourne, Australia, the Group’s student accommodation assets are managed under the “dwell” brand.
In November 2017, Centurion broke new ground with the establishment of its inaugural private fund, the Centurion US Student Housing Fund, which now holds a portfolio of 2,145 beds in the US. A year later in December 2018, the Group announced the successful first close of its second fund, the Centurion Student Accommodation Fund, to invest in purpose-built student accommodation globally (ex-US). In line with the Group’s asset light strategy, such investments will allow Centurion to efficiently leverage resources to scale up in a sustainable manner.
With global reach and a clear growth strategy to actively enhance and manage its assets, identify strategic acquisitions supported by joint ventures and investment funds, Centurion has evolved to become Singapore’s leading owner, manager and operator of niche, alternative accommodation assets.