High need for worker dorms a boon for Centurion, but rental rates not expected to keep going up: CEO

High need for worker dorms a boon for Centurion, but rental rates not expected to keep going up: CEO

|Riah Marton|


MAINBOARD-LISTED Centurion Corporation will benefit from robust demand for worker beds, but its CEO cautioned that rents “will not keep going up”.

Rental rates across the market have generally stabilised, but continue to increase with demand, chief executive Kong Chee Min said in an earnings briefing on Thursday (Feb 29).

This increase is likely to be fed by the expected S$32 billion to S$38 billion in contracts to be awarded by the Building and Construction Authority from 2025 to 2028, as well as an increasing number of work permit holders in the construction, marine and process (CMP) sectors, Centurion noted. 

The briefing comes after the specialised accommodation assets operator on Wednesday…



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Riah Marton

I'm Riah Marton, a dynamic journalist for Forbes40under40. I specialize in profiling emerging leaders and innovators, bringing their stories to life with compelling storytelling and keen analysis. I am dedicated to spotlighting tomorrow's influential figures.

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