More room for growth
Centurion Corporation's expansion in Singapore and abroad is helping it achieve record profits.
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FACED with a small market and a tightening of foreign labour flows to Singapore, Centurion Corporation is looking abroad to grow its core business of providing worker and student accommodation.
Centurion started life in 2011 with the reverse takeover of Singapore-listed SM Summit Holdings and the injection of a 5,300-bed workers dormitory. Four years on, the company's portfolio now has around 40,000 beds in Singapore, Malaysia and Australia. It has three facilities in Singapore, with a fourth one currently being constructed. The group's overall portfolio is expected to jump to more than 74,000 beds by the end of 2017.
Centurion diversified into student accommodation last year with the acquisition of RMIT Village in Australia in February. It added another four student dormitory assets in United Kingdom in September 2014.
