Centurion (SGX:OU8) was awarded a tender by JTC to develop purpose-built worker accommodation at Lok Yang Way in Singapore, according to a Monday filing with the Singapore Exchange.
The 28,441-square-meter site will support a 5,000-bed development, and SGX's bid of SG$221.7 million was the highest of 10 bids received by JTC.
The specialized accommodation provider intends to develop the asset through a 90:10 joint venture, with completion expected during the second quarter of 2028.
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