Centurion Corporation has secured a master lease from the Selangor State Development Corporation to manage a purpose-built workers accommodation at Petaling Jaya.
The lease for the ready-built property is expected to commence on Dec 1 2020, for a tenure of 21 years with options to extend for a further 9 years.
It consists of two eleven storey blocks of dormitory living quarters and 2 levels of basement car park, with a total gross floor area of close to 419,000 square feet, and has more than 5,000 beds.
This property will be operated under Centurion’s Westlite Accommodation brand and management platform.
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This property will serve a number of industrial estates such as Sungai Way Industrial Zone, Subang Hi-Tech Industrial Park and Taman Perindustrian Subang Utama.
“We look forward to supporting employers and their HR agencies in the Klang Valley region with quality workers accommodation and related services, as we have done in Johor and Penang,” says Kong Chee Min, Centurion’s CEO.
Including this latest asset, the company’s workers dormitory portfolio in Malaysia will comprise of 8 Westlite Accommodation properties of approximately 35,700 beds in Johor, Penang and now, Selangor.
Centurion Corp shares closed Nov 18 unchanged 32 cents.