Centurion Accommodation REIT (CAREIT) has announced a distribution per unit (DPU) of 3.499 Singapore cents for the first half of 2026, outperforming its Prospectus Forecast by 9.6%. This achievement is attributed to higher rental rates and bed sales in its Purpose-Built Worker Accommodation (PBWA) and favourable foreign exchange movements.
CAREIT’s gross revenue reached S$108.9m, exceeding the forecast by 5.1%, whilst its net property income stood at S$78.4m, surpassing expectations by 4.3%. The increase in revenue was bolstered by additional income from expanded capacities at Westlite Toh Guan and Westlite Mandai, contributing S$1.1m.
The financial occupancy rates for CAREIT’s PBWA and Purpose-Built Student Accommodation (PBSA) were 92.2% and 98.8%, respectively. Notably, Westlite Toh Guan and Westlite Mandai achieved committed occupancy rates of 99.0% and 87.2% by the end of July 2026, indicating strong leasing momentum.
Since its initial public offering (IPO), CAREIT’s portfolio capacity has grown by approximately 25.7%, now comprising 30,236 operational beds. The trust maintains a healthy aggregate leverage of 29.9%, with a debt headroom of S$380m, allowing for future growth opportunities.
CAREIT’s inclusion in the FTSE EPRA Nareit Global Developed Index as of 22 June 2026 marks a significant milestone, achieved within nine months of its IPO. This recognition underscores the trust’s robust performance and strategic growth trajectory.
The next distribution is scheduled for 17 September 2026, reflecting CAREIT’s commitment to delivering consistent returns to its unitholders.
