Centurion Corporation, through its wholly-owned subsidiary, Centurion Overseas Investments (II) Pte. Ltd., has acquired a 25% equity interest in a purpose-built student accommodation (PBSA) at Fairway, Perth, for A$250,000 ($225,475). This is the group’s second investment in the city following the 472-bed PBSA development on Stirling Highway.
The 182-bed PBSA, which is currently under development, is located at 55-57 Fairway, Crawley, Perth, directly adjacent to the University of Western Australia’s Crawley Campus. It is also located some 250m from the Broadway Fair Shopping Centre, while it is a short walk to and from the Swan River foreshore. The PBSA is expected to be completed in 2Q2027. Upon completion, the property will be managed by the group and operated under Centurion Corp's Epiisod student accommodation brand. The property is designed as a fully integrated student living environment with 182 studios and facilities including a gym, yoga studio, sauna, ice bath, swimming pool and cafe among others.
The remaining 75% is held by Centurion Properties Australia Investments Pty. Ltd. (CPAI), a wholly-owned subsidiary of Centurion Corp’s controlling shareholder. CPAI is a wholly-owned subsidiary of Centurion Properties, which is, in turn, a wholly-owned subsidiary of Centurion Global Ltd. Centurion Properties and Centurion Global are controlling shareholders of Centurion Corp. Centurion Global is owned equally by Han Seng Juan, non-executive director, joint chairman of the board and a controlling shareholder of Centurion Corp, and David Loh, executive director, joint chairman of the board and controlling shareholder of Centurion Corp. Han and Loh are also directors of Centurion Global.
"This development strengthens our PBSA presence in Australia and expands our footprint in Perth, capturing the strong student demand anchored by the University of Western Australia,” says Kong Chee Min, CEO of Centurion Corporation.
“As part of our growing pipeline in student accommodation, which is expected to deliver 2,198 new beds progressively between 2027 and 2028, it reinforces our ability to scale our portfolio and deliver long-term value for shareholders,” he adds.
Shares in Centurion Corp closed 2 cents higher or 1.34% up at $1.51 on June 17.
