Centurion Accommodation REIT to Expand Capacity at Westlite Ubi with New Block

Centurion Corporation Limited ( (SG:OU8) ) has shared an announcement.

Centurion Accommodation REIT’s manager has obtained provisional permission to add a new six-storey block and alter the existing eight-storey block at its Westlite Ubi property, increasing capacity by 540 beds from 1,650 to 2,190. The land premium of about S$13.9 million will be funded through committed debt facilities, underscoring the REIT’s use of leverage to support portfolio growth while maintaining operational continuity at the existing block.

The Proposed Ubi Works are expected to start by the second quarter of 2026 and take roughly 1.5 years to complete, with the current 1,650-bed block remaining operational and income generating throughout the construction period. The manager does not expect the project to have any material impact on net asset value per unit or distribution per unit for the financial year ending 31 December 2026, suggesting a manageable financial effect for unitholders despite the expansion.

The most recent analyst rating on (SG:OU8) stock is a Buy with a S$1.81 price target. To see the full list of analyst forecasts on Centurion Corporation Limited stock, see the SG:OU8 Stock Forecast page.

More about Centurion Corporation Limited

Centurion Accommodation REIT, managed by Centurion Asset Management Pte. Ltd., focuses on accommodation assets such as worker and possibly student housing, with Westlite Ubi forming part of its Singapore portfolio. The REIT is supported in capital markets by institutions including DBS Bank Ltd. and UBS AG, Singapore Branch, which act as issue managers, global coordinators, bookrunners and underwriters for its initial public offering.

Average Trading Volume: 1,211,471

Technical Sentiment Signal: Strong Buy

Current Market Cap: S$1.24B

See more insights into OU8 stock on TipRanks’ Stock Analysis page.