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 developed its portfolio to 100 estates with over 3,400 keys. In a news release declaring its economic results for FY2025 concluded Dec 31, 2025, the firm adds that it has also protected a pipeline of around 1,490 keys throughout new projects over the next 2 years.
Looking ahead, TAP is forecasting co-living demand to remain robust, upheld by workforce movement, the high expense of home ownership, way of life adjustments and the preference for lease versatility among its targeted market– those aged 34 years and below. “As Singapore’s biggest and most varied community living operator, TAP is well-positioned to record chances in the city-state’s co-living industry,” the business adds.
The pipeline involves TAP’s very first venture into the migrant worker rental segment. In March, it publicized a joint venture with S11 Group to manage an 886-bed dorm located at Seletar North Link. The dorm will include structured well-being programs and technology-enabled procedures aimed at improving neighborhood engagement, well-being and social communication.
Elsewhere, many other new real estates in the jobs are expected to contribute about 441 keys. These include Singapore residences at 400 River Valley Road, 63 and 65 South Bridge Road, 101 Lavender Street and 259 Outram Road. In addition, TAP is slated to broaden right into Malaysia this year, with a forthcoming hotel real estate in Bangsar, Kuala Lumpur.
“Despite the one-off effect of IPO costs, we preserved our earnings momentum, showing the resilience of our manpower-lean, asset-light and community-driven model, and the expanding need for flexible, lifestyle-oriented living options,” states Lim.
For its FY2025, TAP disclosed modified revenues of $7.7 million, up 24.2% y-o-y, backed by a 42.4% rise in revenue across the very same duration to $27 million. The mass of TAP’s income growth was driven by its core community-driven stays sector, which represented $25.2 countless FY2025 revenue, up 42.4% y-o-y. TAP attributes the jump to the larger variety of keys under management and operation, boosting from 2,106 as at the end of FY2024 to 3,422 in FY2025, in addition to more master leases participated in during the year.
The projects cap off an active year for TAP, which also lately finished its IPO and listing on the SGX Catalist board in January. “With the funds strengthened from our IPO, we are well-positioned to even more improve our program packages, strengthen market infiltration and increase our reach as we work in the direction of our target of 10,000 keys by 2030,” remarks Eugene Lim, TAP’s exec director and CEO.
At the same time, TAP released its hospitality brand name Social in 2025 with 2 boutique resort properties: the 26-key Social on Outram on Outram Road and the 26-key Social on Mayo at Jalan Besar. In addition, it recently carried out the refurbishment of Serene Center, marking TAP’s initial endeavor into retail shopping mall regulation. The upgraded four-storey mixed-use project in Bukit Timah includes retail outlets on the 1st two floors, whilst the top floors have actually 86 serviced flats.
TAP adds that the solid functionality was further sustained by robust tenancy prices, which in turn averaged 94.4% in FY2025, up from 91% in FY2024.
TAP is likewise transforming Lian Huat Building, an 11-storey estate industrial property at 163 Tras Street, into a hotel. The structure was purchased by a joint venture in which TAP has a 10% stake, with the rest stored by Apricot Capital and Eric Low, deputy CEO of Oxley Holdings. In announcing its final results, TAP likewise states that it has gotten regulatory authorization to turn the building right into a 163-key resort, greater than the 152 keys initially predicted.
