Centurion Acquires 65% Stake in Singapore Land Owner

MT Newswires02-16 13:42

Centurion (SGX:OU8) through its subsidiary, Centurion Dormitory Venture (II), acquired a 65% stake in Manna 777 Properties from ACKC Hesed and Mulberry Land for SG$4.8 million, according to a Friday filing with the Singapore Exchange.

Shares of the property developer were up nearly 2% at the close of trading on Monday.

The target owns a plot of freehold land in Singapore which spans across an area of around 975.9 square meters.

Following the acquisition, the subsidiary has also agreed to a joint venture with the sellers who have minority stakes in Manna 777.

The joint venture will develop and operator a workers accommodation on the land.

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