Centurion looks to raise bed capacity amid dormitory supply crunch
MAINBOARD-LISTED dormitory operator Centurion Corporation has been given the go-ahead to increase the bed capacity at its quick-build dormitory (QBD) sites, as supply remains tight.
Centurion Corporation chief executive Kong Chee Min said the company has received approval from JTC to add 888 more beds at its Westlite Jalan Tukang and Westlite Tuas Avenue 2 dormitories, two QBDs that began operations in 2021.
QBDs are temporary structures built during the pandemic to create additional bed space for migrant workers.
Centurion has a lease term of three years at the two sites, with an option to extend the lease by a year after that.
The company operates five purpose-built dormitories (PBD) with 27,530 beds, and four QBDs with 6,368 beds. An average of 97 per cen…
GET BT IN YOUR INBOX DAILY
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Microsoft launches lightweight AI model
Gucci-owner Kering posts 10% drop in Q1 sales on sluggish Chinese demand
Hotel Properties prices 5-year notes at 5.1%
Apple to hold launch event on May 7, with new iPads expected
OUE Reit obtains S$600 million unsecured sustainability-linked loan
US: Wall St opens higher as more earnings roll in