Centurion Corporation Limited (“Centurion” or the “Company” and together with its subsidiaries, the “Group”) owns, develops and manages quality, 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 1981 as an audio cassette tape manufacturer, the Company was listed on the Singapore Exchange (SGX: OU8) in January 1995. In 2011, a reverse takeover saw the Group successfully diversifying into the 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 of 31 December 2018, the Group owns and manages a strong portfolio of 28 accommodation assets totalling 55,408 beds. Following the completion of projects currently under development and undergoing asset enhancement works, the Group’s portfolio of accommodation assets will grow to 31 assets with 62,656 beds by 2Q 2019.
Centurion’s established portfolio of workers accommodation assets are managed under the “Westlite” brand. The Group owns a portfolio of c.26,100 beds across four workers accommodation assets in Singapore and c.30,300 beds across seven workers accommodation assets in Malaysia.
The Group successfully expanded into the student accommodation business in 2014. Centurion owns a portfolio of ten assets in the UK with a total capacity of 2,675 beds, a 332-bed asset in Singapore and two assets in Australia with 896 bed spaces, inclusive of 160 additional beds of RMIT Village’s AEP due to complete in 2Q 2019 and one 208- bed asset in South Korea. With the exception of RMIT Village, 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 with a portfolio of 2,145 beds. A year later in December 2018, the Group announced the successful first closing of its second fund, the Centurion Student Accommodation Fund, which will invest in purpose-built student accommodations 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 accommodation assets in niche and growing alternative asset classes.