Centurion posts S$280.1 million revenue as accommodation portfolio expands
Nine-month revenue increased 35 per cent, while the company retained its second-half forecast of about S$190 million.
Centurion Corporation’s revenue reached S$280.1 million in January-September 2026, a rise of 35 per cent against S$208.3 million a year earlier. The accommodation provider’s Nov 11 update linked the increase chiefly to Westlite Mandai’s consolidation, additional Singapore beds and contributions from Malaysian and Australian properties.
For the third quarter, revenue climbed from S$67.5 million to S$95.2 million, an increase of 41 per cent. Centurion left its second-half revenue projection unchanged at about S$190 million, which would mean approximately 22 per cent growth against the same period in 2025.
Worker accommodation brought in S$219.6 million during the nine-month period, up 35 per cent. The segment’s average financial occupancy dropped from 90 per cent to 84 per cent. Centurion attributed that decline mainly to Malaysia’s lower occupancy and the process of filling additional beds in Singapore.
Student accommodation generated S$57.6 million, a 32 per cent increase, with Sydney’s EPIISOD Macquarie Park providing the main contribution to growth. Average financial occupancy in this business improved from 94 per cent to 97 per cent.
Singapore revenue rose 34 per cent, reaching S$199.7 million. Worker accommodation occupancy there eased from 99 per cent to 94 per cent as 5,460 additional beds were being filled. The company said commitments covered all new Westlite Mandai beds, with tenancies expected to be fully under way by early 2027.
In Malaysia, revenue increased 31 per cent to S$18.7 million, while worker accommodation occupancy declined from 83 per cent to 73 per cent because foreign-worker caps restricted recruitment. Centurion expects occupancy across both its Malaysian and Singapore portfolios to improve in the fourth quarter.
