The Assembly Place portfolio hits 100 properties, with another 1,490 keys in the pipeline
TAP is additionally transforming Lian Huat Building, an 11-storey property industrial building at 163 Tras Street, into a hotel. The structure was acquired by a joint project wherein TAP has a 10% interest, with the rest stored by Apricot Capital and Eric Low, deputy chief executive officer of Oxley Holdings. In announcing its results, TAP likewise states that it has actually received regulatory authorization to convert the structure right into a 163-key hotel, greater than the 152 keys at first projected.
TAP includes that the strong performance was further sustained by robust tenancy prices, which averaged 94.4% in FY2025, up from 91% in FY2024.
Looking ahead, TAP is forecasting co-living need to remain robust, sustained by workforce activity, the high expense of own a home, way of living changes and the preference for lease flexibility amongst its targeted market– those aged 34 years and below. “As Singapore’s biggest and most diversified community living operator, TAP is well-positioned to record chances in the city-state’s co-living industry,” the company includes.
The plans cap off a busy year for TAP, which additionally just recently accomplished its IPO and listing on the SGX Catalist board in January. “With the funds strengthened from our IPO, we are well-positioned to better enhance our program services, grow market penetration and expand our reach as we work in the direction of our target of 10,000 keys by 2030,” remarks Eugene Lim, TAP’s exec supervisor and chief executive officer.
For its FY2025, TAP disclosed modified revenues of $7.7 million, up 24.2% y-o-y, supported by a 42.4% surge in earnings across the exact same period to $27 million. The bulk of TAP’s income development was driven by its core community-driven stays section, which made up $25.2 countless FY2025 revenue, up 42.4% y-o-y. TAP connects the jump to the larger variety of keys under management and procedure, increasing from 2,106 as at the end of FY2024 to 3,422 in FY2025, as well as even more master leases participated in during the year.
“Despite the one-off effect of IPO costs, we preserved our earnings energy, reflecting the resilience of our manpower-lean, asset-light and community-driven model, and the expanding demand for adaptable, lifestyle-oriented living solutions,” claims Lim.
Meanwhile, TAP released 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 completed the refurbishment of Serene Facility, noting TAP’s very first endeavor into retail mall regulation. The updated four-storey mixed-use property development in Bukit Timah features retail shops on the 1st two floorings, while the upper floors have 86 serviced apartments.
The Assembly Place Holdings (TAP), the Singapore Exchange-listed area living provider, has developed its accounts to 100 properties with over 3,400 keys. In a news release announcing its financial results for FY2025 finished Dec 31, 2025, the business includes that it has actually also secured a pipeline of around 1,490 keys across new plans over the next 2 years.
Elsewhere, some other new properties in the works are expected to add about 441 keys. These include Singapore residences at 400 River Valley Road, 63 and 65 South Bridge Road, 101 Lavender Street and 259 Outram Road. Additionally, TAP is schedule to increase into Malaysia this year, with a forthcoming resort real estate in Bangsar, Kuala Lumpur.
The pipeline features TAP’s primary venture right into the migrant worker accommodation segment. In March, it announced a shared venture with S11 Group to manage an 886-bed dorm situated at Seletar North Link. The dorm will offer designed well-being programmes and technology-enabled operations aimed at improving neighborhood interaction, health and social communication.
