The Assembly Place portfolio hits 100 properties, with another 1,490 keys in the pipeline
The Assembly Place Holdings (TAP), the Singapore Exchange-listed neighborhood living provider, has actually developed its accounts to 100 properties with more than 3,400 keys. In a news release declaring its monetary results for FY2025 finished Dec 31, 2025, the company includes that it has also gotten a pipeline of around 1,490 keys throughout new plans over the next 2 years.
TAP includes that the strong efficiency was further supported by sturdy occupancy prices, which averaged 94.4% in FY2025, up from 91% in FY2024.
The pipeline includes TAP’s first venture right into the migrant worker rental section. In March, it announced a shared endeavor with S11 Group to manage an 886-bed dorm found at Seletar North Link. The dorm room is going to include structured well-being process and technology-enabled functions aimed at boosting community interaction, health and social communication.
On the other hand, TAP introduced its hospitality brand Social in 2025 with 2 store hotel properties: the 26-key Social on Outram on Outram Road and the 26-key Social on Mayo at Jalan Besar. Furthermore, it lately finished the repair of Serene Centre, noting TAP’s first venture right into retail shopping center supervision. The updated four-storey mixed-use development in Bukit Timah features retail channels on the 1st two floorings, while the top floorings have 86 serviced flats.
Elsewhere, some other brand-new real estates in the works are anticipated to add about 441 keys. These consist of Singapore residences at 400 River Valley Road, 63 and 65 South Bridge Road, 101 Lavender Street and 259 Outram Road. Furthermore, TAP is slated to broaden into Malaysia this year, with an upcoming hotel estate in Bangsar, Kuala Lumpur.
TAP is likewise transforming Lian Huat Building, an 11-storey estate business property at 163 Tras Street, right into a hotel. The structure was purchased by a joint project by which TAP has a 10% interest, with the balance held by Apricot Capital and Eric Low, deputy chief executive officer of Oxley Holdings. In announcing its final results, TAP additionally states that it has actually received regulatory authorization to convert the property right into a 163-key hotel, more than the 152 keys at first projected.
For its FY2025, TAP documented modified revenues of $7.7 million, up 24.2% y-o-y, supported by a 42.4% rise in profits across the same period to $27 million. The mass of TAP’s profits growth was driven by its core community-driven stays sector, which represented $25.2 countless FY2025 income, up 42.4% y-o-y. TAP connects the jump to the larger variety of keys under administration and operation, boosting from 2,106 as at the end of FY2024 to 3,422 in FY2025, in addition to even more master leases entered into throughout the year.
Looking in advance, TAP is predicting co-living need to remain robust, upheld by workforce activity, the high expense of own a home, way of life adjustments and the choice for lease flexibility among its targeted demographic– those aged 34 years and below. “As Singapore’s largest and most diversified community living operator, TAP is well-positioned to record possibilities in the city-state’s co-living industry,” the company includes.
The plans cap off a busy year for TAP, which likewise just recently completed its IPO and classifying on the SGX Catalist board in January. “With the funds inflated from our IPO, we are well-positioned to additionally enhance our service packages, grow market infiltration and increase our reach as we work towards our target of 10,000 keys by 2030,” says Eugene Lim, TAP’s exec head and CEO.
“In spite of the one-off effect of IPO expenditures, we preserved our revenue momentum, mirroring the strength of our manpower-lean, asset-light and community-driven design, and the expanding demand for adaptable, lifestyle-oriented living services,” claims Lim.
