Centurion to build student accommodation in Australia

CENTURION Corporation is set to make its foray into the student accommodation business, after it emerged as the successful bidder for the construction of RMIT Village and an adjoining car-park building in Melbourne for a total purchase consideration of A$60 million (S$68.7 million).

This comprises A$52 million for the student accommodation and A$8 million for the car-park building.

The transaction is subject to certain conditions, including approval from the Foreign Investment Review Board of Australia.