The Assembly Place portfolio hits 100 properties, with another 1,490 keys in the pipeline
The pipeline features TAP’s primary foray right into the migrant worker rental sector. In March, it publicized a mutual endeavor with S11 Group to operate an 886-bed dorm situated at Seletar North Link. The dormitory is going to include structured well-being programmes and technology-enabled functions aimed at boosting area engagement, wellness and social cohesion.
TAP adds that the solid efficiency was further supported by sturdy occupancy rates, which in turn averaged 94.4% in FY2025, up from 91% in FY2024.
For its FY2025, TAP documented modified revenues 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 bulk of TAP’s income development was driven by its core community-driven stays segment, which made up $25.2 countless FY2025 income, up 42.4% y-o-y. TAP associates the jump to the bigger variety of tricks under management and procedure, boosting from 2,106 as at the end of FY2024 to 3,422 in FY2025, as well as even more master leases became part of throughout the year.
Meanwhile, TAP released its hospitality company Social in 2025 with 2 shop resort properties: the 26-key Social on Outram on Outram Road and the 26-key Social on Mayo at Jalan Besar. Additionally, it just recently completed the refurbishment of Serene Facility, marking TAP’s first endeavor right into retail mall management. The upgraded four-storey mixed-use property development in Bukit Timah features retail channels on the first two levels, whilst the top floors have 86 serviced flats.
Somewhere else, many other new properties in the works are anticipated to add roughly 441 keys. These include Singapore real properties at 400 River Valley Road, 63 and 65 South Bridge Road, 101 Lavender Street and 259 Outram Road. Furthermore, TAP is schedule to expand into Malaysia this year, with an approaching resort estate in Bangsar, Kuala Lumpur.
Looking in advance, TAP is predicting co-living need to remain robust, supported by workforce activity, the high cost of own a home, lifestyle modifications and the preference for lease flexibility among its targeted market– those aged 34 years and below. “As Singapore’s largest and most varied community living operator, TAP is well-positioned to record chances in the city-state’s co-living industry,” the company includes.
The Assembly Place Holdings (TAP), the Singapore Exchange-listed community living operator, has developed its collection to 100 estates with more than 3,400 keys. In a press release publicizing its financial results for FY2025 ended Dec 31, 2025, the company adds that it has actually also protected a pipe of around 1,490 keys throughout new projects over the next 2 years.
TAP is likewise converting Lian Huat Building, an 11-storey property business property at 163 Tras Street, right into a hotel. The structure was acquired by a joint venture by 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 also states that it has actually obtained regulative approval to convert the establishment into a 163-key resort, greater than the 152 keys at first projected.
The plans cap off an active year for TAP, which likewise just recently finished its IPO and classifying on the SGX Catalist board in January. “With the funds inflated from our IPO, we are well-positioned to further boost our service packages, strengthen market infiltration and expand our reach as we function in the direction of our target of 10,000 keys by 2030,” says Eugene Lim, TAP’s executive manager and CEO.
“Regardless of the one-off impact of IPO expenditures, we preserved our profit momentum, showing the durability of our manpower-lean, asset-light and community-driven model, and the expanding demand for versatile, lifestyle-oriented living options,” states Lim.
