The Assembly Place portfolio hits 100 properties, with another 1,490 keys in the pipeline
The plans cap off a busy year for TAP, which also lately finished its IPO and classifying on the SGX Catalist board in January. “With the funds strengthened from our IPO, we are well-positioned to even more enhance our service packages, deepen market infiltration and expand our reach as we function in the direction of our target of 10,000 keys by 2030,” remarks Eugene Lim, TAP’s executive manager and CEO.
In other places, many other new real estates in the jobs are expected to add 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 increase right into Malaysia this year, with an upcoming resort property in Bangsar, Kuala Lumpur.
For its FY2025, TAP documented modified profits of $7.7 million, up 24.2% y-o-y, backed by a 42.4% rise in revenue across the same duration to $27 million. The bulk of TAP’s income development was driven by its core community-driven stays sector, which accounted for $25.2 million of FY2025 income, 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, as well as even more master leases participated in throughout the year.
TAP is likewise converting Lian Huat Building, an 11-storey property business building at 163 Tras Street, right into a hotel. The building was purchased by a joint venture by which TAP has a 10% interest, with the rest held by Apricot Capital and Eric Low, deputy CEO of Oxley Holdings. In releasing its outcomes, TAP also claims that it has actually obtained governing authorization to transform the property into a 163-key hotel, more than the 152 keys at first forecasted.
Looking ahead, TAP is forecasting co-living demand to remain robust, supported by employees movement, the high price of home ownership, lifestyle adjustments and the choice for lease versatility amongst its targeted group– those aged 34 years and below. “As Singapore’s biggest and most diversified area living operator, TAP is well-positioned to capture opportunities in the city-state’s co-living industry,” the business includes.
On the other hand, TAP released its hospitality label 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 lately completed the renovation of Serene Centre, marking TAP’s first project right into retail shopping mall regulation. The updated four-storey mixed-use project in Bukit Timah includes retail shops on the first two floors, whilst the upper floorings have 86 serviced apartments.
“Regardless of the one-off influence of IPO expenses, we maintained our profit energy, mirroring the strength of our manpower-lean, asset-light and community-driven design, and the expanding demand for versatile, lifestyle-oriented living services,” claims Lim.
TAP includes that the strong functionality was further sustained by sturdy occupancy prices, which in turn averaged 94.4% in FY2025, up from 91% in FY2024.
The pipeline includes TAP’s first foray right into the migrant worker lodging section. In March, it revealed a shared venture with S11 Group to manage an 886-bed dorm found at Seletar North Link. The dorm room is going to include designed well being process and technology-enabled functions aimed at enhancing community engagement, wellness and social cohesion.
The Assembly Place Holdings (TAP), the Singapore Exchange-listed area living provider, has actually expanded its accounts to 100 estates with more than 3,400 keys. In a press release announcing its monetary results for FY2025 concluded Dec 31, 2025, the business adds that it has also secured a pipeline of around 1,490 keys across all new projects over the next 2 years.
