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 grown its accounts to 100 estates with over 3,400 keys. In a press release announcing its economic outcomes for FY2025 ended Dec 31, 2025, the firm adds that it has actually also gotten a pipe of around 1,490 keys throughout all new plans over the following 2 years.
The plans cap off a busy year for TAP, which additionally recently finished its IPO and listing on the SGX Catalist board in January. “With the funds inflated from our IPO, we are well-positioned to additionally improve our service offerings, grow market infiltration and increase our reach as we function towards our target of 10,000 keys by 2030,” remarks Eugene Lim, TAP’s exec supervisor and CEO.
Looking in advance, TAP is predicting co-living demand to remain robust, supported by labor force movement, the high cost of home ownership, way of living adjustments and the preference for lease versatility among its targeted market– those aged 34 years and below. “As Singapore’s biggest and most diversified area living operator, TAP is well-positioned to catch chances in the city-state’s co-living market,” the company adds.
The pipeline features TAP’s first venture right into the migrant worker rental sector. In March, it announced a shared endeavor with S11 Group to manage an 886-bed dorm found at Seletar North Link. The dorm will include designed well-being process and technology-enabled functions aimed at enhancing neighborhood involvement, well-being and social communication.
TAP includes that the solid functionality was further supported by sturdy tenancy costs, which averaged 94.4% in FY2025, up from 91% in FY2024.
For its FY2025, TAP disclosed altered earnings of $7.7 million, up 24.2% y-o-y, upheld by a 42.4% rise in income across the same duration to $27 million. The bulk of TAP’s income development was driven by its core community-driven stays section, which represented $25.2 numerous FY2025 earnings, up 42.4% y-o-y. TAP associates the jump to the bigger variety of keys under administration and operation, increasing from 2,106 as at the end of FY2024 to 3,422 in FY2025, in addition to even more master leases entered into throughout the year.
In other places, some other new real estates in the works are expected to add 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 expand right into Malaysia this year, with an approaching resort building in Bangsar, Kuala Lumpur.
TAP is also transforming Lian Huat Structure, an 11-storey estate commercial building at 163 Tras Street, right into a hotel. The building was bought by a joint project in which TAP has a 10% risk, with the balance stored by Apricot Capital and Eric Low, deputy CEO of Oxley Holdings. In announcing its final results, TAP likewise says that it has actually obtained governing approval to turn the building right into a 163-key resort, greater than the 152 keys initially projected.
Meanwhile, TAP released its hospitality company Social in 2025 with 2 shop 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 Centre, marking TAP’s initial endeavor right into retail shopping mall regulation. The updated four-storey mixed-use development in Bukit Timah includes retail channels on the first 2 floors, while the upper floorings have actually 86 serviced apartments.
“Despite the one-off effect of IPO expenditures, we preserved our profit energy, reflecting the strength of our manpower-lean, asset-light and community-driven design, and the growing need for adaptable, lifestyle-oriented living solutions,” claims Lim.
