CAREIT says that with the completion of the additional block, the existing 6,290 beds in the remaining blocks in Westlite Mandai were supposed to be reduced to comply with the maximum bed capacity.
However, as the relevant authorities have approved of the expanded capacity at Westlife Mandai, the additional beds can be retained until Dec 31, 2030.
As such, an application for the Foreign Employee Dormitories Act (FEDA) licence has been made, for the 9,986 beds.
After receipt of the FEDA licence, the manager of CAREIT will pay the Mandai Expanded Capacity Consideration of $34.0 million to Lian Beng-Centurion.
See also: A tale of two Centurions
Units in CAREIT closed 1 cent higher or 0.909% up at $1.11 on Jan 7.
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