Centurion Accommodation REIT, a spinoff from Singapore-based worker and student housing provider Centurion Corp., opened 11% above its IPO price in its market debut on September 25.

The IPO raised S$771.1 million (US$599 million), making it Singapore’s second-largest stock listing in 2025.

This listing has pushed total IPO proceeds in Singapore to US$1.4 billion so far this year, the highest in six years, according to Bloomberg data.

Centurion Accommodation REIT’s market value is about S$1.5 billion (US$1.17 billion) based on the number of units outstanding.

The REIT holds 15 properties across Singapore, the UK, and Australia, including one property planned to be acquired after the listing, focusing on worker and student accommodation.

Its Q1 profit rose 24% year-on-year to S$21.6 million (US$16.8 million).

The IPO was managed by DBS Group Holdings Ltd., UBS Group AG, United Overseas Bank Ltd., UOB-Kay Hian Holdings Ltd. and Malayan Banking Bhd.

Centurion Accommodation REIT is now one of about 40 publicly traded REITs and property trusts on the Singapore Exchange.

🔗 Source: Bloomberg