The Assembly Place portfolio hits 100 properties, with another 1,490 keys in the pipeline
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 raised from our IPO, we are well-positioned to better improve our service services, deepen market infiltration and broaden our reach as we function towards our target of 10,000 keys by 2030,” remarks Eugene Lim, TAP’s executive manager and CEO.
“In spite of the one-off effect of IPO expenses, we maintained our profit energy, mirroring the strength of our manpower-lean, asset-light and community-driven version, and the expanding interest for flexible, lifestyle-oriented living services,” says Lim.
TAP adds that the solid performance was further supported by robust tenancy rates, which balanced 94.4% in FY2025, up from 91% in FY2024.
For its FY2025, TAP reported altered profits of $7.7 million, up 24.2% y-o-y, supported by a 42.4% rise in earnings throughout the same period to $27 million. The mass of TAP’s profits growth was driven by its core community-driven stays section, which represented $25.2 countless FY2025 revenue, up 42.4% y-o-y. TAP attributes the jump to the bigger variety of tricks under management and operation, enhancing from 2,106 as at the end of FY2024 to 3,422 in FY2025, in addition to even more master leases became part of during the year.
The pipeline features TAP’s primary venture right into the migrant worker accommodation section. In March, it publicized a mutual venture with S11 Group to operate an 886-bed dorm situated at Seletar North Link. The dorm room is going to offer structured well-being programmes and technology-enabled functions aimed at improving community engagement, health and social communication.
The Assembly Place Holdings (TAP), the Singapore Exchange-listed community living provider, has actually grown its collection to 100 real estates with over 3,400 keys. In a press release publicizing its economic results for FY2025 concluded Dec 31, 2025, the business includes that it has also secured a pipe of around 1,490 keys across all new plans over the next two years.
Looking ahead, TAP is predicting co-living need to stay robust, supported by labor force mobility, the high price of home ownership, lifestyle adjustments and the choice for lease flexibility amongst its targeted market– those aged 34 years and below. “As Singapore’s biggest and most varied area living operator, TAP is well-positioned to record chances in the city-state’s co-living industry,” the firm includes.
At the same time, TAP released its hospitality brand name Social in 2025 with 2 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 lately carried out the repair of Serene Facility, marking TAP’s first project right into retail shopping center management. The updated four-storey mixed-use development in Bukit Timah features retail outlets on the first two floorings, while the top floors have 86 serviced flats.
In other places, other new real estates in the jobs are expected to contribute roughly 441 keys. These consist of Singapore real properties at 400 River Valley Road, 63 and 65 South Bridge Road, 101 Lavender Street and 259 Outram Road. In addition, TAP is schedule to broaden into Malaysia this year, with an upcoming hotel real estate in Bangsar, Kuala Lumpur.
TAP is also converting Lian Huat Structure, an 11-storey estate commercial establishment at 163 Tras Street, into a hotel. The structure was acquired by a joint project by which TAP has a 10% interest, with the remainder held by Apricot Capital and Eric Low, deputy CEO of Oxley Holdings. In disclosing its outcomes, TAP additionally says that it has gotten regulative authorization to convert the building right into a 163-key hotel, more than the 152 keys initially forecasted.
