The Assembly Place portfolio hits 100 properties, with another 1,490 keys in the pipeline
The Assembly Place Holdings (TAP), the Singapore Exchange-listed neighborhood living operator, has actually expanded its collection to 100 estates with more than 3,400 keys. In a news release announcing its economic results for FY2025 ended Dec 31, 2025, the company includes that it has actually also protected a pipeline of around 1,490 keys across all new projects over the next two years.
Elsewhere, other new real estates in the jobs are anticipated to add about 441 keys. These include Singapore properties at 400 River Valley Road, 63 and 65 South Bridge Road, 101 Lavender Street and 259 Outram Road. Additionally, TAP is schedule to expand right into Malaysia this year, with a forthcoming resort property in Bangsar, Kuala Lumpur.
For its FY2025, TAP reported altered profits of $7.7 million, up 24.2% y-o-y, supported by a 42.4% surge in earnings across the exact same duration to $27 million. The bulk of TAP’s revenue growth was driven by its core community-driven stays sector, which accounted for $25.2 numerous FY2025 income, up 42.4% y-o-y. TAP connects the jump to the bigger number of keys under administration and procedure, 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 throughout the year.
“Regardless of the one-off influence of IPO expenses, we maintained our earnings energy, reflecting the durability of our manpower-lean, asset-light and community-driven design, and the expanding demand for flexible, lifestyle-oriented living options,” says Lim.
The plans cap off a hectic year for TAP, which likewise lately finished its IPO and classifying on the SGX Catalist board in January. “With the funds raised from our IPO, we are well-positioned to better improve our service services, grow market penetration and expand our reach as we work towards our target of 10,000 keys by 2030,” mentions Eugene Lim, TAP’s exec head and CEO.
The pipeline features TAP’s primary venture into the migrant worker rental section. In March, it revealed a shared project with S11 Group to run an 886-bed dorm located at Seletar North Link. The dorm room will offer structured well-being process and technology-enabled operations aimed at improving community engagement, well-being and social cohesion.
TAP is also transforming Lian Huat Building, an 11-storey freehold commercial structure at 163 Tras Street, into a hotel. The structure was bought by a joint project wherein TAP has a 10% risk, with the rest held by Apricot Capital and Eric Low, deputy chief executive officer of Oxley Holdings. In announcing its outcomes, TAP additionally says that it has actually received regulatory authorization to change the building right into a 163-key hotel, more than the 152 keys initially forecasted.
At the same time, TAP introduced its hospitality label 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. Furthermore, it recently completed the repair of Serene Center, noting TAP’s initial endeavor right into retail mall supervision. The updated four-storey mixed-use development in Bukit Timah features retail outlets on the first two floorings, whilst the top floors have actually 86 serviced residences.
Looking ahead, TAP is predicting co-living demand to remain robust, upheld by employees activity, the high price of own a home, way of living changes and the choice for lease versatility among its targeted market– those aged 34 years and below. “As Singapore’s largest and most varied area living operator, TAP is well-positioned to catch chances in the city-state’s co-living market,” the business includes.
TAP adds that the solid performance was further sustained by sturdy occupancy costs, which averaged 94.4% in FY2025, up from 91% in FY2024.
