The Assembly Place portfolio hits 100 properties, with another 1,490 keys in the pipeline
The Assembly Place Holdings (TAP), the Singapore Exchange-listed area living operator, has actually expanded its accounts to 100 properties with over 3,400 keys. In a news release announcing its monetary results for FY2025 ended Dec 31, 2025, the company includes that it has also secured a pipeline of around 1,490 keys throughout all new plans over the following two years.
Elsewhere, many other new real estates in the works are anticipated to contribute approximately 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. Furthermore, TAP is slated to expand right into Malaysia this year, with a future resort estate in Bangsar, Kuala Lumpur.
Looking in advance, TAP is projecting co-living need to remain robust, supported by workforce activity, the high cost of home ownership, way of living changes and the choice for lease flexibility amongst its targeted market– those aged 34 years and below. “As Singapore’s largest and most varied neighborhood living operator, TAP is well-positioned to capture opportunities in the city-state’s co-living industry,” the company adds.
TAP includes that the solid performance was further supported by durable tenancy costs, which averaged 94.4% in FY2025, up from 91% in FY2024.
TAP is likewise transforming Lian Huat Structure, an 11-storey freehold industrial building at 163 Tras Street, right into a hotel. The structure was bought by a joint project in which TAP has a 10% interest, with the balance stored by Apricot Capital and Eric Low, deputy chief executive officer of Oxley Holdings. In disclosing its outcomes, TAP likewise claims that it has gotten regulative authorization to change the structure into a 163-key hotel, more than the 152 keys originally forecasted.
Canberra Crescent Residences Singapore
For its FY2025, TAP documented altered earnings of $7.7 million, up 24.2% y-o-y, backed by a 42.4% rise in earnings across the same duration 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 attributes the jump to the bigger number of keys under monitoring and procedure, boosting from 2,106 as at the end of FY2024 to 3,422 in FY2025, as well as more master leases became part of throughout the year.
The plans cap off an active year for TAP, which likewise 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 further enhance our service offerings, grow market penetration and broaden our reach as we function towards our target of 10,000 keys by 2030,” remarks Eugene Lim, TAP’s exec director and chief executive officer.
The pipeline features TAP’s primary foray right into the migrant worker lodging segment. In March, it declared a mutual project with S11 Group to manage an 886-bed dormitory located at Seletar North Link. The dormitory is going to offer designed well being process and technology-enabled operations aimed at boosting neighborhood interaction, wellness and social cohesion.
“Despite the one-off influence of IPO expenditures, we kept our earnings momentum, showing the strength of our manpower-lean, asset-light and community-driven model, and the expanding need for versatile, lifestyle-oriented living options,” claims Lim.
On the other hand, TAP released its hospitality company Social in 2025 with 2 boutique resort properties: the 26-key Social on Outram on Outram Road and the 26-key Social on Mayo at Jalan Besar. Furthermore, it lately finished the refurbishment of Serene Center, marking TAP’s initial project into retail shopping center management. The upgraded four-storey mixed-use development in Bukit Timah includes retail shops on the first two levels, whilst the upper floors have 86 serviced apartments.
