MAINBOARD-LISTED Centurion Corp : OU8 0% will benefit from robust demand for worker beds, but its chief executive officer cautioned that rents “will not keep going up”.

Rental rates across the market have generally stabilised, but continue to increase with demand, CEO Kong Chee Min said in an earnings briefing on Thursday (Feb 29).

This increase is likely to be fed by the expected S$32 billion to S$38 billion in contracts to be awarded by the Building and Construction Authority from 2025 to 2028, as well as an increasing number of work permit holders in the construction, marine and process (CMP) sectors, Centurion noted.