The Assembly Place portfolio hits 100 properties, with another 1,490 keys in the pipeline
The plans cap off a busy year for TAP, which additionally recently completed its IPO and classifying on the SGX Catalist board in January. “With the funds raised from our IPO, we are well-positioned to additionally enhance our service packages, strengthen market penetration and increase our reach as we work in the direction of our target of 10,000 keys by 2030,” remarks Eugene Lim, TAP’s executive supervisor and chief executive officer.
Looking ahead, TAP is projecting co-living need to stay robust, supported by labor force activity, the high expense of home ownership, lifestyle changes and the choice for lease flexibility among its targeted group– those aged 34 years and below. “As Singapore’s biggest and most diversified community living operator, TAP is well-positioned to capture opportunities in the city-state’s co-living market,” the company includes.
The pipeline features TAP’s primary foray into the migrant worker lodging sector. In March, it publicized a joint venture with S11 Group to manage an 886-bed dorm found at Seletar North Link. The dormitory will offer structured well-being programmes and technology-enabled procedures aimed at improving neighborhood involvement, health and social communication.
For its FY2025, TAP reported altered incomes of $7.7 million, up 24.2% y-o-y, upheld by a 42.4% surge in profits across the very same duration to $27 million. The mass of TAP’s revenue development was driven by its core community-driven stays section, which represented $25.2 numerous FY2025 profits, up 42.4% y-o-y. TAP associates the jump to the larger number of keys under management and procedure, 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.
TAP adds that the solid performance was further supported by durable occupancy rates, which in turn balanced 94.4% in FY2025, up from 91% in FY2024.
In other places, other brand-new real estates in the jobs are anticipated to add approximately 441 keys. These include Singapore properties at 400 River Valley Road, 63 and 65 South Bridge Road, 101 Lavender Street and 259 Outram Road. In addition, TAP is slated to increase right into Malaysia this year, with an approaching resort estate in Bangsar, Kuala Lumpur.
“Regardless of the one-off influence of IPO costs, we maintained our revenue energy, showing the durability of our manpower-lean, asset-light and community-driven model, and the growing interest for versatile, lifestyle-oriented living services,” claims Lim.
Meanwhile, TAP launched its hospitality brand name Social in 2025 with two shop 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 refurbishment of Serene Facility, noting TAP’s initial venture into retail mall supervision. The upgraded four-storey mixed-use development in Bukit Timah includes retail channels on the first two floorings, whilst the top floorings have 86 serviced residences.
TAP is additionally converting Lian Huat Building, an 11-storey property business property at 163 Tras Street, into a hotel. The building was purchased 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 releasing its final results, TAP additionally says that it has actually obtained regulative approval to turn the structure right into a 163-key resort, more than the 152 keys initially predicted.
The Assembly Place Holdings (TAP), the Singapore Exchange-listed community living operator, has actually grown its portfolio to 100 real estates with over 3,400 keys. In a news release announcing its economic results for FY2025 concluded Dec 31, 2025, the company adds that it has also gotten a pipe of around 1,490 keys across all new plans over the following two years.
