The Assembly Place portfolio hits 100 properties, with another 1,490 keys in the pipeline
The pipeline includes TAP’s very first venture into the migrant worker accommodation segment. In March, it announced a shared project with S11 Group to operate an 886-bed dormitory found at Seletar North Link. The dorm will include organized welfare process and technology-enabled procedures aimed at enhancing area engagement, wellness and social cohesion.
For its FY2025, TAP documented altered revenues of $7.7 million, up 24.2% y-o-y, upheld by a 42.4% surge in earnings throughout the exact same period to $27 million. The bulk of TAP’s earnings growth was driven by its core community-driven stays sector, which accounted for $25.2 countless FY2025 earnings, up 42.4% y-o-y. TAP attributes the jump to the bigger variety of keys under administration and procedure, boosting from 2,106 as at the end of FY2024 to 3,422 in FY2025, along with even more master leases participated in during the year.
Meanwhile, TAP launched its hospitality brand name 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. Additionally, it recently completed the repair of Serene Facility, marking TAP’s first project into retail mall regulation. The upgraded four-storey mixed-use development in Bukit Timah includes retail shops on the first two floorings, while the upper floors have 86 serviced residences.
The projects cap off a hectic year for TAP, which also recently accomplished its IPO and listing on the SGX Catalist board in January. “With the funds raised from our IPO, we are well-positioned to better enhance our program offerings, strengthen market infiltration and increase our reach as we work towards our target of 10,000 keys by 2030,” remarks Eugene Lim, TAP’s executive head and chief executive officer.
In other places, many other brand-new real estates in the works are expected to add around 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 slated to broaden into Malaysia this year, with a future hotel real estate in Bangsar, Kuala Lumpur.
TAP is additionally transforming Lian Huat Building, an 11-storey property business property at 163 Tras Street, into a hotel. The building was acquired by a joint project in which TAP has a 10% stake, with the rest held by Apricot Capital and Eric Low, deputy CEO of Oxley Holdings. In disclosing its final results, TAP likewise says that it has actually gotten regulatory approval to turn the property into a 163-key hotel, greater than the 152 keys originally predicted.
“Regardless of the one-off effect of IPO expenses, we preserved our revenue energy, mirroring the strength of our manpower-lean, asset-light and community-driven design, and the growing demand for adaptable, lifestyle-oriented living solutions,” says Lim.
Looking in advance, TAP is forecasting co-living need to stay robust, upheld by employees activity, the high expense of home ownership, way of life modifications and the preference for lease flexibility among its targeted group– those aged 34 years and below. “As Singapore’s biggest and most varied area living operator, TAP is well-positioned to catch opportunities in the city-state’s co-living market,” the company adds.
The Assembly Place Holdings (TAP), the Singapore Exchange-listed area living provider, has developed its profile to 100 estates with more than 3,400 keys. In a press release publicizing its monetary results for FY2025 finished Dec 31, 2025, the company includes that it has actually also secured a pipe of around 1,490 keys across all new plans over the next 2 years.
TAP includes that the solid efficiency was further supported by durable tenancy prices, which in turn balanced 94.4% in FY2025, up from 91% in FY2024.
