Centurion Corporation has unveiled its S$1.8bn portfolio of a new real-estate investment trust (REIT), which it had earlier applied to be listed on the Singapore Exchange (SGX) mainboard. The company first announced that it was exploring the establishment of a REIT for its purpose-built student accommodation (PBSA) assets in February this year.
In a bourse filing, mainboard-listed Centurion named the REIT as Centurion Accommodation REIT. The new REIT comprises 14 properties which includes eight PBSA assets in Britain and one in Australia, and five purpose-built worker accommodation assets in Singapore.
It will subsequently acquire one more student property, located in Sydney, Australia, when it is ready for occupation, bringing the total to 15. This property is estimated to be operational in 2026, and its acquisition will raise the portfolio value to S$2.1bn.
The REIT will invest in a portfolio of income-producing real estate assets which are primarily used as purpose-built worker accommodation, PBSA or other longer-stay purposes.
Centurion said that based on a preliminary assessment of its unaudited consolidated management accounts for the half year of 2025, it is expected to report a significant profit increase. This increase arises from fair value gain on the group’s investment properties compared with the valuations on its books.
Centurion’s move comes amid a flurry of renewed investor interest in REITs, buoyed by soaring property prices and a moderating interest rate environment, spurring large distribution yields.
