Centurion Accommodation REIT Secures Approvals for Workers' Dormitory Expansion
MT Newswires05-26 14:02
Centurion Accommodation REIT (SGX:8C8U) secured all required approvals, including the Foreign Employees Dormitories Act (FEDA) license to increase the bed capacity of its workers' dormitory in Westlite Mandai, according to a Monday Singapore bourse filing.
Shares of the REIT were down nearly 1% in Tuesday trading.
With the approvals, the REIT will grant an expansion consideration of SG$34 million to Lian Beng-Centurion (Mandai).
In January, the REIT had secured a temporary occupation permit for the construction of an additional block in Westlite Mandai for 9,986 beds.
The FEDA license is valid until Sept. 24, 2028, and the REIT will make a new license application closer to the expiration date.
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