The Assembly Place portfolio hits 100 properties, with another 1,490 keys in the pipeline
The pipeline includes TAP’s very first foray right into the migrant worker accommodation segment. In March, it publicized a joint endeavor with S11 Group to operate an 886-bed dorm located at Seletar North Link. The dormitory is going to offer designed well-being process and technology-enabled procedures aimed at boosting neighborhood involvement, health and social communication.
“In spite of the one-off impact of IPO expenses, we kept our earnings momentum, showing the strength of our manpower-lean, asset-light and community-driven model, and the expanding interest for adaptable, lifestyle-oriented living options,” states Lim.
TAP includes that the solid functionality was further sustained by robust tenancy prices, which in turn averaged 94.4% in FY2025, up from 91% in FY2024.
The projects cap off an active year for TAP, which likewise just recently finished its IPO and listing on the SGX Catalist board in January. “With the funds strengthened from our IPO, we are well-positioned to additionally enhance our service packages, grow market penetration and increase our reach as we function in the direction of our target of 10,000 keys by 2030,” mentions Eugene Lim, TAP’s executive supervisor and CEO.
Looking in advance, TAP is predicting co-living demand to stay robust, upheld by workforce mobility, the high price of own a home, way of living modifications and the choice for lease flexibility amongst its targeted demographic– those aged 34 years and below. “As Singapore’s biggest and most diversified community living operator, TAP is well-positioned to record possibilities in the city-state’s co-living market,” the firm adds.
On the other hand, TAP launched its hospitality brand Social in 2025 with two shop resort properties: the 26-key Social on Outram on Outram Road and the 26-key Social on Mayo at Jalan Besar. Furthermore, it recently carried out the repair of Serene Center, marking TAP’s initial venture into retail shopping mall regulation. The upgraded four-storey mixed-use property development in Bukit Timah includes retail shops on the first two levels, whilst the upper floors have actually 86 serviced apartments.
The Assembly Place Holdings (TAP), the Singapore Exchange-listed area living operator, has expanded its portfolio to 100 real estates with over 3,400 keys. In a press release announcing its monetary results for FY2025 concluded Dec 31, 2025, the business includes that it has actually also protected a pipe of around 1,490 keys across all new plans over the next two years.
TAP is also converting Lian Huat Structure, an 11-storey freehold business property at 163 Tras Street, right into a hotel. The structure was purchased by a joint venture by which TAP has a 10% stake, with the remainder kept by Apricot Capital and Eric Low, deputy CEO of Oxley Holdings. In announcing its outcomes, TAP also says that it has actually gotten regulatory approval to transform the establishment right into a 163-key hotel, more than the 152 keys initially projected.
Somewhere else, many other brand-new properties in the jobs are anticipated to contribute around 441 keys. These consist of Singapore 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 right into Malaysia this year, with a future resort building in Bangsar, Kuala Lumpur.
For its FY2025, TAP reported modified profits of $7.7 million, up 24.2% y-o-y, upheld by a 42.4% rise in profits throughout the exact same duration to $27 million. The mass of TAP’s revenue development was driven by its core community-driven stays segment, which accounted for $25.2 numerous FY2025 earnings, up 42.4% y-o-y. TAP attributes the jump to the bigger number of keys under monitoring and operation, enhancing from 2,106 as at the end of FY2024 to 3,422 in FY2025, as well as more master leases became part of during the year.
