In line with our continual commitment to providing quality accommodation in a safe and conducive living environment, we maintain a regular upgrading and expansion programme to meet the space and living needs of our residents. Providing high quality facilities ensures we stay competitive in this market and allow us to anticipate and meet our customers’ requirements in providing quality accommodation for their employees.
As part of our asset enhancement initiatives, the Group has recently undertaken upgrading works to increase Westlite Toh Guan’s bed capacity and expand its existing recreation and commercial facilities. These asset enhancement works were completed in January 2014, and the site now comprises an additional 18 storey block as well as the existing seven 5-storey blocks. Total bed capacity has increased to approximately 8,600 beds, complemented by indoor and outdoor recreational areas.
We are constantly on the lookout for opportunities to acquire additional accommodation assets to grow our portfolio in Singapore and overseas, including existing accommodation assets and suitable land sites.
Leveraging the strong network of our controlling shareholder, we will focus on expanding in key manufacturing hubs in Asia where the demand for foreign workers accommodation is strong. The Group’s expansion and growth will include investments in and management of accommodation assets and related businesses. We will undertake such acquisitions and investments, either on our own or through strategic relationships or joint ventures with suitable partners.
We have a strong team of professionals who have years of experience and track record in effectively managing accommodation assets which accommodate various nationalities, customs and cultures, as well as the ability to provide design, construction and management-related consultancy services. Leveraging our deep management expertise and experience, the Group will constantly look for opportunities to manage accommodation assets owned by private companies, developers and institutional or financial investors. We may also enter into strategic partnerships or ventures with suitable partners to carry out management of accommodation assets that are owned by third parties.