Singapore-listed Centurion buys Jakarta land for $0.8m to develop worker accommodation
Mainboard-listed Centurion Corp has bought a 77,715 sq ft piece of land in Jakarta, Indonesia to develop worker accommodation.
The company said on Friday that it paid about $800,000 for the land through internal resources. It will comprise 750 apartment units catered for workers and middle-level executives working in nearby industrial parks. The project is slated to be completed in 2016.
This project marks Centurion's first worker accommodation investment in Indonesia. It will be developed, owned and operated by Centurion's wholly-owned subsidiary, PT Westlife Accommodation Cibitung.
The land is in the eastern part of Jakarta in the Bekasi District, about 30 km from Central Jakarta.