Worker Accommodation

Centurion is one of the largest providers of purpose-built worker accommodation (“PBWA”) in Singapore and Malaysia, owning and managing assets under the established Westlite Accommodation brand. The Group owns and operates PBWA assets directly and also manages PBWA assets on behalf of Centurion Accommodation REIT (“CAREIT”).

SINGAPORE

In Singapore, the Group operates 10 PBWAs with a total capacity of c.39,254 beds, comprising six Purpose-Built Dormitories (“PBDs”) with c.33,978 beds and four Quick Build Dormitories (“QBDs”) with c.7,256 beds. These include assets owned and operated by Centurion, as well as assets owned by CAREIT and managed by Centurion on CAREIT’s behalf. The portfolio assets are strategically situated within industrial estates or worksites and built in compliance with current government regulations.

The Group continues to explore opportunities to enhance existing assets and expand its portfolio of PBWA in Singapore to deliver a steady supply of both newly constructed and redeveloped PBD beds, which are fully compliant with regulatory standards laid down by the Ministry of Manpower (MOM).

Five of the six PBDs, Westlite Toh Guan, Westlite Mandai, Westlite Woodlands, Westlite Juniper and Westlite Ubi are owned by CAREIT and managed by Centurion through Centurion Asset Management Pte. Ltd. in its capacity as REIT manager.

Westlite Toh Guan is the Group’s largest dormitory with c.8,430 beds. An Asset Enhancement Initiative (“AEI”) completed in October 2025 added c.1,764 New Dormitory Standards (“NDS”)-compliant beds following receipt of the Temporary Occupation Permit. The Group has received approval to retain c.664 existing beds at Westlite Toh Guan until 31 December 2028.

Westlite Mandai, situated near the Sungai Kadut and Woodlands industrial districts, offers c.8,006 beds and is open to workers from all industries. An Asset Enhancement Initiative adding c.3,696 NDS-compliant beds was completed in January 2026. The Group has received approval to retain c.1,980 existing beds until 31 December 2030.

Westlite Woodlands is a c.4,100-bed accommodation strategically located near the Woodlands industrial hub, serving workers from the marine, process, and manufacturing industries in northern Singapore.

Westlite Juniper is a c.1,912-bed facility located in the Mandai area, within close proximity to Westlite Mandai.

Westlite Ubi stands out as the Group’s first dormitory developed in full compliance with NDS. The purpose-built c.1,650-bed worker accommodation, with modern and comprehensive facilities and amenities, is situated in the Eastern-Central Ubi area, conveniently close to major highways including the PIE, KPE and CTE, making commuting to and from worksites easy for residents.

ASPRI-Westlite Papan is a unique integrated development owned and operated by Centurion, comprising a PBWA and the Association of Process Industry (“ASPRI”) training centre within one convenient estate. This c.7,900-bed facility caters to the housing and training needs of workers in the Process, Construction, and Maintenance (“PCM”) industry. Conveniently located near Jurong Island, it supports a workforce serving more than 100 global energy and chemical companies.

The four QBDs, Westlite Jalan Tukang, Westlite Kranji Way, Westlite Tuas Avenue 2 and Westlite Tuas South Boulevard, are owned and operated directly by Centurion, providing a combined capacity of c.7,256 beds across key industrial zones in Singapore.

MALAYSIA

In Malaysia, the Group owns and manages 13 PBWAs located in Johor, Penang and Selangor, with a total portfolio capacity of c.36,006 beds as at 31 March 2025. In September 2025, the Group acquired Harum Megah Resources for RM110.8 million, adding six fully operational assets with c.7,197 beds in Johor and expanding the Group’s Malaysia bed capacity by approximately 25%.

Eleven of the 13 PBWA are in Johor: Westlite Tebrau, Westlite Johor Tech Park, Westlite Pasir Gudang, Westlite Senai, Westlite Senai II, Westlite Tampoi, Westlite Desa Cemerlang, Westlite Senai Airport City, Westlite Permas Jaya, Westlite Kempas and Westlite Pasir Gudang II. Westlite Bukit Minyak is located in Penang. Westlite – PKNS Petaling Jaya is located in Selangor.

Primarily serving the manufacturing sector, all properties adhere to international ethical standards established by organisations such as the Responsible Business Alliance and the International Labour Organisation. Demand for high-quality PBWA remains supported by the Federal and State Governments’ continued enforcement of the Minimum Standards of Housing, Accommodation, and Employee Facilities Act 1990 (“Act 446”). The Johor Government continues to stress the importance of employers providing Centralised Labour Quarters (“CLQ”) for migrant workers in compliance with Act 446.

In 2024, the Group completed sale and leaseback arrangements for Westlite Bukit Minyak and Westlite Tampoi with Kumpulan Wang Persaraan (Diperbadankan) (KWAP), with 15-year master leases secured for both properties. Asset Enhancement Initiatives at Westlite Johor Tech Park added c.870 beds during FY2025. The Group continues to explore further opportunities for portfolio expansion, including a potential PBWA development in Nusajaya, Iskandar, Johor with a capacity of c.7,000 beds, as well as opportunities to enhance bed capacity across existing assets.

HONG KONG SAR, CHINA

In July 2024, the Group expanded its PBWA operations into Hong Kong SAR, China through a master lease agreement for Westlite Sheung Shui in Sheung Shui, New Territories. Westlite Sheung Shui is conveniently located near transportation networks, within walking distance of the Sheung Shui MTR, and just 35 minutes from Hong Kong International Airport. The property was retrofitted to serve as specialised accommodation for foreign workers, primarily in the food and beverage (“F&B”) and service sectors, with a capacity of c.539 beds. The asset targets the growing demand for foreign labour in Hong Kong SAR, driven by the implementation of the Enhanced Supplementary Labour Scheme (“ESLS”).

CHINA

In 2025, the Group expanded into China’s build-to-rent (“BTR”) market with the launch of Centurion-Cityhome Gaolin in Xiamen, Fujian Province. The asset comprises c.400 apartments and is operated under a 20-year master lease arrangement. Centurion holds a 51% interest in the asset.

Centurion-Cityhome Gaolin represents the Group’s entry into a new living sector segment, targeting the growing demand for professionally managed rental housing among young professionals and the urban workforce in China. The asset is located in Xiamen, a key economic city, and offers quality, well-managed accommodation in a market supported by increasing urbanisation and a rising preference for rental housing solutions.