The Assembly Place portfolio hits 100 properties, with another 1,490 keys in the pipeline
The projects cap off a hectic year for TAP, which also just recently completed its IPO and classifying on the SGX Catalist board in January. “With the funds inflated from our IPO, we are well-positioned to even more enhance our program packages, deepen market infiltration and broaden our reach as we function towards our target of 10,000 keys by 2030,” mentions Eugene Lim, TAP’s executive head and chief executive officer.
TAP adds that the strong efficiency was further supported by durable occupancy rates, which averaged 94.4% in FY2025, up from 91% in FY2024.
“Regardless of the one-off impact of IPO costs, we preserved our profit momentum, mirroring the resilience of our manpower-lean, asset-light and community-driven design, and the expanding interest for adaptable, lifestyle-oriented living options,” says Lim.
Looking in advance, TAP is projecting co-living need to stay robust, supported by labor force movement, the high price of own a home, lifestyle changes and the choice for lease flexibility amongst its targeted group– those aged 34 years and below. “As Singapore’s largest and most diversified area living operator, TAP is well-positioned to catch opportunities in the city-state’s co-living market,” the business adds.
For its FY2025, TAP reported modified incomes of $7.7 million, up 24.2% y-o-y, supported by a 42.4% rise in income throughout the very 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 numerous FY2025 revenue, up 42.4% y-o-y. TAP attributes the jump to the larger variety of tricks under monitoring and operation, raising from 2,106 as at the end of FY2024 to 3,422 in FY2025, along with even more master leases entered into throughout the year.
TAP is likewise converting Lian Huat Building, an 11-storey freehold business property at 163 Tras Street, into a hotel. The structure was acquired by a joint venture in which TAP has a 10% risk, with the remainder kept by Apricot Capital and Eric Low, deputy chief executive officer of Oxley Holdings. In announcing its results, TAP likewise claims that it has actually received regulative approval to change the property right into a 163-key resort, greater than the 152 keys at first projected.
The Assembly Place Holdings (TAP), the Singapore Exchange-listed area living provider, has actually grown its collection to 100 estates with over 3,400 keys. In a press release announcing its financial outcomes for FY2025 concluded Dec 31, 2025, the firm includes that it has actually also protected a pipeline of around 1,490 keys throughout all new plans over the following two years.
Meanwhile, TAP released its hospitality company Social in 2025 with 2 boutique hotel properties: the 26-key Social on Outram on Outram Road and the 26-key Social on Mayo at Jalan Besar. In addition, it lately completed the repair of Serene Center, noting TAP’s first project right into retail mall regulation. The upgraded four-storey mixed-use property development in Bukit Timah includes retail shops on the 1st 2 levels, while the upper floors have 86 serviced residences.
The pipeline features TAP’s very first foray right into the migrant worker lodging segment. In March, it declared a mutual venture with S11 Group to operate an 886-bed dormitory located at Seletar North Link. The dormitory will include structured welfare programs and technology-enabled operations aimed at improving community engagement, well-being and social cohesion.
Elsewhere, other new properties in the jobs are anticipated to add roughly 441 keys. These include Singapore real estates at 400 River Valley Road, 63 and 65 South Bridge Road, 101 Lavender Street and 259 Outram Road. Furthermore, TAP is slated to broaden into Malaysia this year, with an upcoming resort building in Bangsar, Kuala Lumpur.
