Centurion Corp

Centurion Corp eyes Middle East expansion while shoring up domestic presence

The property player is targeting worker and mid-skilled housing in around three countries in the Middle East

The plot of freehold land at 7 Kim Chuan Lane spans 975.9 sq m.

Centurion Corporation unit acquires 65% stake in factory building plot for S$4.8 million

The aim is to develop and operate a purpose-built workers accommodation on the site

The proposed works will add 540 beds to the Westlite Ubi dorm.

Centurion Accommodation Reit gets in-principle approval for Westlite Ubi dorm expansion

The proposed works should start by Q2, and will be completed in about 1.5 years

Analysts expect the construction sector to outperform on a construction upcycle supported by post-pandemic project catch-up and infrastructure investments.
BROKERS’ TAKE

CGSI initiates coverage on Centurion Accomodation Reit with ‘add’, S$1.38 target price

RHB upgrades Centurion Corporation’s target price to S$1.88 from S$1.86

Centurion Overseas Investments (II) entered into an agreement for the stake in Stirling Highway Development by subscribing for six million shares.

Centurion buys 25% stake in Perth student accommodation project for A$6 million

The site has obtained development approval for a 472-bed facility across 440 units

Centurion's Westlite PBWA in Woodlands. Demand for such properties remains strong, the company said

Centurion posts 9% rise in Q3 revenue with strong demand for worker, student housing

The company has S$713 million in borrowings as at Sep 30, against S$434 million in cash

Centurion Corp noted the “persistent demand-supply imbalance” in the UK purpose-built student accommodation market.

Centurion Corp acquires London site for £41 million to develop student housing

Acquisition marks Centurion’s entry into London, the sixth city within its UK portfolio

Centurion Accommodation Reit ended its first trading day at S$0.96, nearly 9.1 per cent above its IPO price of S$0.88.
MARK TO MARKET

Strong debut for Centurion Accommodation is only half the story unfolding in the S-Reit space

Pressure for value-up initiatives could test resources and networks of sponsor groups; CapitaLand Investment may set new standards for them with listing of a China Reit

Westlite Ubi is among the assets in Centurion Accommodation Reit's portfolio.

Centurion Accommodation Reit closes 9.1% above IPO price on SGX debut

This is the second-biggest mainboard listing on the SGX this year

Westlite Ubi is among the assets in Centurion Accommodation Reit's portfolio.

Centurion Accommodation Reit’s offer of 262.1 million units oversubscribed by 16.6 times

Its Singapore public offering of 13.2 million units oversubscribed by 30.9 times