The Assembly Place portfolio hits 100 properties, with another 1,490 keys in the pipeline
The Assembly Place Holdings (TAP), the Singapore Exchange-listed community living operator, has actually grown its profile to 100 real estates with over 3,400 keys. In a news release announcing its financial results for FY2025 ended Dec 31, 2025, the company adds that it has also gotten a pipe of around 1,490 keys across all new projects over the next two years.
Elsewhere, many other new properties in the works are expected to contribute approximately 441 keys. These include Singapore real properties at 400 River Valley Road, 63 and 65 South Bridge Road, 101 Lavender Street and 259 Outram Road. Additionally, TAP is schedule to increase into Malaysia this year, with a forthcoming hotel building in Bangsar, Kuala Lumpur.
Looking ahead, TAP is projecting co-living demand to stay robust, upheld by employees mobility, the high expense of home ownership, lifestyle modifications and the choice for lease versatility amongst its targeted demographic– those aged 34 years and below. “As Singapore’s biggest and most varied area living operator, TAP is well-positioned to record opportunities in the city-state’s co-living market,” the firm includes.
The pipeline features TAP’s very first venture into the migrant worker rental sector. In March, it revealed a shared endeavor with S11 Group to manage an 886-bed dormitory situated at Seletar North Link. The dorm room is going to include structured well being process and technology-enabled procedures aimed at boosting community involvement, health and social cohesion.
Grand Dunman Singhaiyi Group Ltd
TAP is additionally transforming Lian Huat Structure, an 11-storey property commercial structure at 163 Tras Street, right into a hotel. The structure was bought by a joint venture by which TAP has a 10% risk, with the remainder stored by Apricot Capital and Eric Low, deputy chief executive officer of Oxley Holdings. In disclosing its final results, TAP additionally states that it has received governing authorization to turn the structure into a 163-key hotel, more than the 152 keys originally forecasted.
TAP includes that the strong functionality was further sustained by sturdy occupancy rates, which averaged 94.4% in FY2025, up from 91% in FY2024.
On the other hand, TAP introduced its hospitality label Social in 2025 with 2 shop hotel properties: the 26-key Social on Outram on Outram Road and the 26-key Social on Mayo at Jalan Besar. Additionally, it recently carried out the repair of Serene Centre, noting TAP’s initial endeavor into retail shopping center management. The updated four-storey mixed-use project in Bukit Timah includes retail outlets on the 1st 2 floorings, while the upper floors have actually 86 serviced flats.
The plans cap off a hectic year for TAP, which also just recently finished its IPO and listing on the SGX Catalist board in January. “With the funds inflated from our IPO, we are well-positioned to further boost our program packages, strengthen market penetration and broaden our reach as we function in the direction of our target of 10,000 keys by 2030,” mentions Eugene Lim, TAP’s exec manager and chief executive officer.
“In spite of the one-off effect of IPO expenses, we maintained our earnings momentum, mirroring the resilience of our manpower-lean, asset-light and community-driven model, and the growing interest for adaptable, lifestyle-oriented living options,” states Lim.
For its FY2025, TAP disclosed altered profits of $7.7 million, up 24.2% y-o-y, backed by a 42.4% surge in revenue throughout the very same period to $27 million. The mass of TAP’s revenue development was driven by its core community-driven stays section, which represented $25.2 million of FY2025 earnings, up 42.4% y-o-y. TAP attributes the jump to the bigger number of tricks under administration and procedure, enhancing from 2,106 as at the end of FY2024 to 3,422 in FY2025, in addition to more master leases became part of throughout the year.
