Rethinking Centurion’s role in housing workers

REAL estate investment trust (Reit) investors here are already spoilt for choice in terms of property asset classes. Soon, they may also get exposure to workers accommodation assets.

Think of the stable demand for housing the army of foreign workers in construction and other sectors that translates into steady recurrent income for Reit investors.

Centurion Corporation’s potential listing of a Reit comprising workers accommodation and student accommodation properties on the local bourse will be much welcomed by supporters of Singapore’s Reit sector and the broader listed equities market.

However, is there risk from the potential shrinking of the private sector’s role in housing workers? Arguably, the public sector could play a much larger role in this area. 

The first government-owned and built foreign worker dormitory, located in Jurong, is scheduled to open in early 2026. This dormitory is the first of two that will be built and owned by the Ministry of Manpower, with the other dormitory in Sengkang West expected to be completed around mid-2028.