The Assembly Place portfolio hits 100 properties, with another 1,490 keys in the pipeline
The Assembly Place Holdings (TAP), the Singapore Exchange-listed area living operator, has actually developed its accounts to 100 real estates with more than 3,400 keys. In a news release announcing its financial results for FY2025 finished Dec 31, 2025, the firm includes that it has also protected a pipe of around 1,490 keys across all new plans over the next two years.
Somewhere else, other brand-new real estates in the works are expected to contribute roughly 441 keys. These consist of Singapore properties at 400 River Valley Road, 63 and 65 South Bridge Road, 101 Lavender Street and 259 Outram Road. Additionally, TAP is schedule to broaden right into Malaysia this year, with an approaching hotel real estate in Bangsar, Kuala Lumpur.
The plans cap off a hectic year for TAP, which additionally recently finished its IPO and listing on the SGX Catalist board in January. “With the funds strengthened from our IPO, we are well-positioned to further enhance our service packages, deepen market infiltration and expand our reach as we work in the direction of our target of 10,000 keys by 2030,” mentions Eugene Lim, TAP’s exec manager and CEO.
For its FY2025, TAP disclosed altered incomes of $7.7 million, up 24.2% y-o-y, backed by a 42.4% rise in profits throughout the same period to $27 million. The bulk of TAP’s income growth was driven by its core community-driven stays section, 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, as well as even more master leases became part of during the year.
Looking in advance, TAP is forecasting co-living need to stay robust, supported by employees mobility, the high price of own a home, way of life modifications and the choice for lease flexibility among its targeted demographic– those aged 34 years and below. “As Singapore’s biggest and most diversified community living operator, TAP is well-positioned to record chances in the city-state’s co-living industry,” the firm adds.
The pipeline includes TAP’s very first venture into the migrant worker lodging segment. In March, it declared a shared project with S11 Group to manage an 886-bed dorm located at Seletar North Link. The dormitory will feature organized well-being process and technology-enabled procedures aimed at improving neighborhood interaction, wellness and social communication.
“In spite of the one-off effect of IPO expenses, we kept our earnings energy, showing the durability of our manpower-lean, asset-light and community-driven design, and the growing demand for adaptable, lifestyle-oriented living services,” claims Lim.
TAP includes that the solid performance was further sustained by sturdy tenancy costs, which averaged 94.4% in FY2025, up from 91% in FY2024.
Meanwhile, TAP introduced its hospitality brand name Social in 2025 with 2 store 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 Center, marking TAP’s very first venture into retail shopping center supervision. The upgraded four-storey mixed-use development in Bukit Timah includes retail shops on the 1st two levels, whilst the top floors have actually 86 serviced apartments.
TAP is additionally transforming Lian Huat Building, an 11-storey property commercial establishment at 163 Tras Street, into a hotel. The building was acquired by a joint project by which TAP has a 10% stake, with the balance held by Apricot Capital and Eric Low, deputy CEO of Oxley Holdings. In announcing its results, TAP also claims that it has obtained governing approval to convert the building into a 163-key hotel, greater than the 152 keys originally projected.
