The Assembly Place portfolio hits 100 properties, with another 1,490 keys in the pipeline
The projects cap off a hectic year for TAP, which likewise recently completed its IPO and classifying on the SGX Catalist board in January. “With the funds strengthened from our IPO, we are well-positioned to additionally enhance our program offerings, grow market penetration and expand our reach as we work towards our target of 10,000 keys by 2030,” says Eugene Lim, TAP’s executive manager and CEO.
For its FY2025, TAP disclosed altered revenues of $7.7 million, up 24.2% y-o-y, upheld by a 42.4% surge in earnings throughout the exact same duration to $27 million. The mass of TAP’s profits growth was driven by its core community-driven stays sector, which made up $25.2 numerous FY2025 revenue, up 42.4% y-o-y. TAP associates the jump to the larger variety of keys under management and procedure, increasing from 2,106 as at the end of FY2024 to 3,422 in FY2025, in addition to even more master leases entered into during the year.
At the same time, TAP introduced its hospitality brand name Social in 2025 with two boutique hotel properties: the 26-key Social on Outram on Outram Road and the 26-key Social on Mayo at Jalan Besar. In addition, it just recently completed the repair of Serene Center, noting TAP’s very first endeavor right into retail shopping center regulation. The upgraded four-storey mixed-use property development in Bukit Timah includes retail outlets on the first 2 levels, while the upper floorings have actually 86 serviced residences.
TAP is additionally transforming Lian Huat Building, an 11-storey freehold business structure at 163 Tras Street, right into a hotel. The building was bought by a joint venture in which TAP has a 10% interest, with the rest held by Apricot Capital and Eric Low, deputy chief executive officer of Oxley Holdings. In disclosing its final results, TAP additionally claims that it has obtained governing approval to turn the property right into a 163-key resort, more than the 152 keys initially forecasted.
TAP adds that the solid functionality was further sustained by sturdy tenancy prices, which balanced 94.4% in FY2025, up from 91% in FY2024.
“Regardless of the one-off influence of IPO expenses, we preserved our earnings energy, reflecting the durability of our manpower-lean, asset-light and community-driven model, and the expanding need for flexible, lifestyle-oriented living solutions,” says Lim.
The pipeline involves TAP’s first venture right into the migrant worker rental section. In March, it declared a shared project with S11 Group to manage an 886-bed dormitory located at Seletar North Link. The dorm will include organized well being process and technology-enabled procedures aimed at improving area involvement, well-being and social communication.
Looking in advance, TAP is predicting co-living demand to remain robust, sustained by employees mobility, the high expense of home ownership, way of living changes and the preference for lease versatility among its targeted market– those aged 34 years and below. “As Singapore’s biggest and most diversified community living operator, TAP is well-positioned to capture possibilities in the city-state’s co-living industry,” the company includes.
The Assembly Place Holdings (TAP), the Singapore Exchange-listed community living operator, has actually developed its profile to 100 real estates with over 3,400 keys. In a news release announcing its economic outcomes for FY2025 ended Dec 31, 2025, the business adds that it has also gotten a pipeline of around 1,490 keys throughout all new projects over the following two years.
Somewhere else, other new real estates in the works are expected to contribute roughly 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 schedule to increase into Malaysia this year, with an upcoming resort building in Bangsar, Kuala Lumpur.
