Centurion Corporation Limited (OU8) said on Aug, 31 2026 that it has won a tender from JTC Corporation to develop a 5,000-bed purpose-built worker accommodation on a 28,441 sq m site at Lok Yang Way, Singapore.

The location, awarded on a 30-year lease, will be developed to the New Dormitory Standards. Construction completion is scheduled for the second quarter of 2028, with operational readiness targeted for the third quarter of 2028.

Centurion’s winning bid of 221.7 million Singapore dollars was the highest of 10 submissions and exceeded the next highest offer by 1.2%. The company plans to develop the project via a joint venture in which it will hold a 90% stake, subject to JTC approval.

The Lok Yang Way award is Centurion’s second successful tender under Singapore’s 2026 dormitory land programme, following the 343 million Singapore dollar win for the 7,000-bed Kranji Close site announced on Aug, 05 2026. Combined, the two projects will add about 12,000 beds and lift the group’s Singapore purpose-built worker accommodation capacity by roughly 29% to about 53,898 beds.

Centurion said it will continue to review additional dormitory land tenders and may offer the completed asset to Centurion Accommodation REIT under its right of first refusal once the project achieves stabilised operations.