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Centurion Accommodation REIT ( (SG:8C8U) ) has issued an update.
Centurion Accommodation REIT’s manager has obtained the temporary occupation permit for an additional block at its Westlite Mandai workers’ dormitory, adding 3,696 beds and triggering the release of approximately S$26.35 million to the vendors of both Westlite Mandai and Westlite Toh Guan following earlier completion of a new block at Westlite Toh Guan. The Mandai asset will now operate at an expanded approved capacity of 9,986 beds, as authorities have allowed the retention of 1,980 beds that were originally slated for removal until 31 December 2030, and, upon receipt of the Foreign Employee Dormitories Act licence for the full 9,986-bed capacity, the REIT will pay a further S$34.0 million Mandai Expanded Capacity Consideration to its development partner, enhancing income potential from the enlarged Mandai facility while also crystallising deferred project-related payments.
The most recent analyst rating on (SG:8C8U) stock is a Buy with a S$1.27 price target. To see the full list of analyst forecasts on Centurion Accommodation REIT stock, see the SG:8C8U Stock Forecast page.
More about Centurion Accommodation REIT
Centurion Accommodation REIT is a Singapore-listed real estate investment trust focused on purpose-built workers’ and student accommodation, with its Westlite-branded assets serving the foreign worker dormitory segment in Singapore. The REIT’s strategy includes enhancing capacity and compliance of its dormitory portfolio to meet regulatory requirements and demand for worker housing, working with development partners and vendors on asset enhancement projects.
Average Trading Volume: 4,686,883
For a thorough assessment of 8C8U stock, go to TipRanks’ Stock Analysis page.