SINGAPORE (May 30): Centurion Corporation has launched an asset enhancement programme for the development of a new wing at RMIT Village, its first student accommodation asset in Melbourne, Australia.

The enhancement works are expected to be completed in the fourth quarter of 2018, ahead of the 2019 academic year. The total development cost for the AEP is estimated at A$30 million ($30.9 million).

Upon completion, the new wing, an 11-storey building comprising studios, four-bedroom, and five-bedroom en-suite apartments, will add up to 160 beds. This will bring the total number of beds in RMIT Village to about 616 beds, a 35% increase from the asset’s current capacity of 456 beds.

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