SPECIALISED accommodation assets player Centurion Corporation : OU8 0% has signed a memorandum of understanding (MOU) with Abu Dhabi’s largest staff accommodation company, KEZAD Communities, to explore collaboration in the Middle East region.

Inked on Saturday (Oct 21), the MOU forms the basis for closer collaboration between both parties to capture opportunities amid rising demand for staff accommodation in the region, said Centurion on Monday.

Centurion will explore different business opportunities, such as the development of deal structures and joint ventures in the region, while leveraging KEZAD Communities’ on-ground expertise.

The partnership will also help Centurion to expand its presence to accommodation markets in the Middle East.

Chief executive officer of Centurion Kong Chee Min noted that the company is always looking for opportunities in new markets to enhance its portfolio.

“This partnership opens a new chapter for Centurion to explore possibilities in an exciting region where demand for purpose-built worker accommodation is set to increase with tightening regulations on workers’ welfare.”

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Shares of Centurion closed Friday down 1.3 per cent, or S$0.005, at S$0.385.