Centurion's 3Q25/9M25 revenue rose 9%/12% y-o-y to S$67.5m/S$208.3m, respectively, broadly within consensus’ full-year forecasts, driven by high occupancies in Singapore and UK, as well as positive rental reversions across PBWA and PBSA.
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Sustained growth path on positive industry dynamics
Organic growth includes an AEI at Westlite Toh Guan to add a new block of 1,764 NDS-compliant beds has obtained Temporary Occupancy Permit (TOP) on 25 Oct 2025 and is now in the process of obtaining a FEDA license to start operations.
Another AEI at Westlite Mandai, to add a new block of 3,696 new dormitory standards (NDS) compliant beds, is expected to obtain TOP by end-2025 or early 2026. Westlite Accommodation secured a Property Management Agreement in Oct 2025 to manage an existing dormitory of 548 beds on Jurong Island. This fee-based management services contract will start in Nov-25, adding to the group’s portfolio of managed assets.
Foray into prime student market in London
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Above is an excerpt from a report by Maybank Research. Clients of Maybank Securities may be the first to access the full PDF report @ https://www.maybanktrade.com.sg/.
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