The Assembly Place portfolio hits 100 properties, with another 1,490 keys in the pipeline
The pipeline involves TAP’s very first foray right into the migrant worker rental sector. In March, it revealed a shared project with S11 Group to operate an 886-bed dormitory located at Seletar North Link. The dormitory is going to feature designed well being process and technology-enabled operations aimed at enhancing community involvement, wellness and social cohesion.
TAP is also converting Lian Huat Structure, an 11-storey freehold industrial establishment at 163 Tras Street, right into a hotel. The structure was bought by a joint project by which TAP has a 10% risk, with the rest kept by Apricot Capital and Eric Low, deputy CEO of Oxley Holdings. In disclosing its results, TAP additionally says that it has obtained governing authorization to turn the structure into a 163-key resort, greater than the 152 keys at first forecasted.
For its FY2025, TAP reported altered profits of $7.7 million, up 24.2% y-o-y, backed by a 42.4% surge in revenue 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 profits, up 42.4% y-o-y. TAP associates the jump to the larger number of tricks under management and operation, enhancing from 2,106 as at the end of FY2024 to 3,422 in FY2025, in addition to even more master leases participated in during the year.
TAP includes that the strong functionality was further supported by robust occupancy rates, which in turn balanced 94.4% in FY2025, up from 91% in FY2024.
Somewhere else, some other brand-new properties in the works are expected to add around 441 keys. These consist of Singapore real estates at 400 River Valley Road, 63 and 65 South Bridge Road, 101 Lavender Street and 259 Outram Road. In addition, TAP is slated to expand into Malaysia this year, with an approaching resort estate in Bangsar, Kuala Lumpur.
The projects cap off a hectic year for TAP, which additionally just recently completed its IPO and listing on the SGX Catalist board in January. “With the funds raised from our IPO, we are well-positioned to further improve our service packages, deepen market penetration and broaden our reach as we work in the direction of our target of 10,000 keys by 2030,” says Eugene Lim, TAP’s executive head and chief executive officer.
The Assembly Place Holdings (TAP), the Singapore Exchange-listed community living provider, has actually grown its accounts to 100 properties with more than 3,400 keys. In a press release declaring its economic results for FY2025 finished Dec 31, 2025, the firm includes that it has actually also secured a pipe of around 1,490 keys across new plans over the following 2 years.
At the same time, TAP launched its hospitality label Social in 2025 with two shop resort properties: the 26-key Social on Outram on Outram Road and the 26-key Social on Mayo at Jalan Besar. Additionally, it lately finished the renovation of Serene Facility, marking TAP’s very first project into retail shopping mall management. The upgraded four-storey mixed-use development in Bukit Timah includes retail channels on the first two floors, whilst the upper floors have actually 86 serviced flats.
Looking in advance, TAP is predicting co-living need to remain robust, supported by workforce mobility, the high price of own a home, way of living modifications and the choice for lease flexibility among its targeted demographic– those aged 34 years and below. “As Singapore’s largest and most diversified neighborhood living operator, TAP is well-positioned to capture opportunities in the city-state’s co-living industry,” the company adds.
“Regardless of the one-off influence of IPO expenditures, we kept our earnings energy, reflecting the durability of our manpower-lean, asset-light and community-driven design, and the expanding interest for flexible, lifestyle-oriented living solutions,” claims Lim.
